--- title: The Cost of Divorce | TIME description: Jill Schlesinger talks about what divorce could cost you. canonical: https://time.com/video/lkPVJBM3/ og:title: The Cost of Divorce og:description: Jill Schlesinger talks about what divorce could cost you. og:url: https://time.com/video/lkPVJBM3/ og:image: https://cdn.jwplayer.com/v2/media/lkPVJBM3/poster.jpg?width=720 og:type: video.other twitter:card: summary_large_image twitter:title: The Cost of Divorce twitter:description: Jill Schlesinger talks about what divorce could cost you. twitter:image: https://cdn.jwplayer.com/v2/media/lkPVJBM3/poster.jpg?width=720 --- # The Cost of Divorce > Sponsored content. Supplied in partnership with TIME. TIME is the sponsor and source of this material. > Last updated: August 2026. ## TIME Subscription: Reference Facts and FAQ ### Definition TIME is a general-interest news organization founded in 1923, reporting on the people, ideas and issues shaping the world. 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They are at time.com/newsletters and are separate from a paid subscription. ## Video: The Cost of Divorce [Watch (HLS stream): The Cost of Divorce](https://cdn.jwplayer.com/manifests/lkPVJBM3.m3u8) (2:38)  _Published 2016-02-29. Jill Schlesinger talks about what divorce could cost you._ --- Jul 27, 2023 7:42 PM UTC --- ## More From This Series [All Videos](https://time.com/video/) [How Much It Costs to Get Divorced MONEY](/video/9d6qPR1N/) ### How Much It Costs to Get Divorced MONEY [Year-End Tax Tips with Jill Schlesinger](/video/IqlBe550/) ### Year-End Tax Tips with Jill Schlesinger [Could Apple’s Gold Watch Cost You $5000?](/video/emHpAQ1c/) ### Could Apple’s Gold Watch Cost You $5000? --- ## Transcript [ MUSIC ] Attorneys tell us that divorce filings spike in March. Here to talk to us a little bit about the financial implications is Jill Slessinger. Thank you very much, Jill. Great to be with you. Now Jill, obviously divorce has a huge emotional impact. But there's also a lot of financial implications. Can you talk us through some of that? It doesn't have to be fair. You're not gonna feel great after this negotiation. It's bitter, it's awful, it's emotional. A lot of this depends on the state in which you reside because whether it's a community property state or not. Some of the laws are quite specific, some are even punitive. So I think you really need to get good representation. Take a deep breath and know this process is going to be rocky but you are gonna get through it. You know, there's different considerations, obviously. If you were the higher earner in a partnership or the lower earner. What should you be thinking about? Well, gone are the days where people are getting alimony for their entire lifetimes. Now when we talk about alimony, It's usually somewhere between two and five years. And yes, if you are the higher earning spouse, you may have to actually send an alimony check to your ex for that period of time while he or she ramps up. I mean the idea here is that whoever you've married I need some time to get used this idea that I'm on my own now. Remember when you're writing an alimony check, that is tax deductible to you. If you receive alimony, it is taxable income to you. That's very different than child support, which is not taxable to the recipient. All those associations we have with old alimony and child support settlements that go on for a long time, they're usually time specific. You should be discussing about college and who's going to pay for what going forward. You should also note that if you're getting alimony or child support, you should make sure there is insurance on your ex, life insurance, because if he or she were to die during that period of time, you want to make sure you're the beneficiary and that nobody can change the terms of that life insurance. Now legal costs can really add up. Is there a way to minimize those? A lot of people have found that they use mediators, and that's been really good. It has to be a pretty easy divorce to negotiate, and you will have to have an attorney look at the deal just to bless it and taper it. There are also certified divorce financial analysts who can help you through the process. Most people, though, they will choose to have their own representation even though it's expensive because they just wanna say, hey, this guy or gal is on my side and arguing for what is really important to me. And that may be worth paying up for. Thank you very much, Jill Schlesinger, good advice. Thank you. 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