While the share of marriages that end in divorce has steadily declined over the last 50 years, between 40% and 50% of U.S. marriages end in dissolution, according to the American Psychological Association. In addition to the emotional strain associated with divorce, ending a marriage can be a significant financial burden.
While property division and alimony payments in the aftermath of divorce can lead to a substantial loss of assets, the actual divorce process itself can be an expensive one. Attorney fees, court filing costs, and other legal fees can add up to several thousand dollars. And depending on where in the country a couple ends their marriage, the cost of a divorce can be in the tens of thousands.
To determine the most (and least) expensive states in which to get a divorce, 24/7 Wall St. reviewed data on the average cost of a divorce from lawyer marketing service company Martindale Nolo Research’s 2015 divorce study. Costs range from $8,400 for the average divorce in Montana to $17,500 in California.
Sponsored: Tips for Investing
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.