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5 ways divorce can cost you

Expected and unexpected divorce expenses
Expected and unexpected divorce expenses © zimmytws/

The actual act of getting divorced can be expensive.

Divorce costs include more than attorney fees and court filing fees. Divorce proceedings may require psychological evaluations, business and financial evaluations, or other professional services, and all that adds up.

Hoffman recommends using your professional's time efficiently to avoid unnecessary charges. Save your questions for a scheduled meeting instead of calling or emailing whenever something comes up.

Consider other costs, such as health insurance premiums since you're not on your ex's employer's plan. If you're selling a house with your ex-spouse, think about real estate commissions and any costs for repairs or upgrades. If one of you is keeping the house, don't forget about re-titling fees and refinance closing costs.

Then, there are higher income taxes from realized gains on liquidated investments, early withdrawals from pensions or retirement savings, and fewer deductions and tax credits.

But "the costliest problem is letting emotion take over," says Hoffman, "when a couple fights over something that is relatively unimportant and spends a lot of money doing it."


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