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Financial Pros and Cons of Divorce Pro: Greater control over your finances. ... Pro: Additional college financial aid for children. ... Pro: An opportunity to reprioritize your financial goals. ... Pro: Access to Social Security spousal benefits. ... Con: The challenge of sorting out credit card debt. ... Con: Tax consequences.
While filing for divorce first does not give you any inherent rights over your spouse, it does allow you more control over the situation from the beginning and could provide some strategic benefits.
Disadvantages of Filing for Divorce First Financial Responsibility: As the petitioner, you might be responsible for the filing fees and other initial costs associated with the divorce. Reactive Response: Filing first might prompt your spouse to respond with legal action of their own.
The 30-day period begins once you serve your partner with divorce. Your spouse then has 30 days to respond to the divorce. If partners agree to the divorce, they can speed up the process with a 30-day waiver. Legal Briefs: How long does getting a divorce take?
Divorce isn't cheap: Both parties will incur attorney and legal fees?and they only add up when children are involved. The primary parent will often be entitled to child support, and in some cases, spousal support, and even the most robust household income will, in essence, be halved.