Everyone getting married likes to think that their marriage will end happily ever after. Unfortunately, statistics don't support that optimism. These days, nearly half of all marriages ultimately end in divorce.

In addition to being a highly emotional life change, divorce can also be very expensive. Between legal fees, court costs, and other expenses, even the most amicable of family law proceedings can be a huge monetary drain. In some instances, divorce can lead to bankruptcy or even poverty.

While no one can guarantee wedded bliss, what if someone could guarantee some measure of financial security in the event that your marriage comes to an end? Long-term divorce insurance is designed to do just that. The catch is that you have to invest in it long before divorce seems likely.

How Divorce Insurance Works

Divorce insurance is not designed for people who are about to get divorced or are already in the middle of divorce proceedings. Rather, think of divorce insurance as long-term leverage against the possibility of divorce some time in the future.

Divorce insurance policies are sold in units that cost a certain amount per month and provide a set amount of coverage. If you get divorced, you receive a lump sum payout equal to the total amount of coverage that you bought. This money can then be used to offset the costs of your divorce.

While this may seem too good to be true, there's a catch. The policy must mature before you can cash it in. Divorce insurance policies require you to have been married for a certain amount of time, often four years, before you can collect. This prevents people from buying divorce insurance when they're on the brink of splitting up. In many cases, it means that you'll have to be willing to hedge your bets as you're walking down the aisle.

The upside is that, if you do get divorced, and particularly if your divorce is a costly affair, you'll have financial support to cover your expenses. While you could alternatively opt to set aside money for future expenses or potential divorce, any such account would be an asset subject to division with your spouse during divorce proceedings.

As with any insurance policy, with divorce insurance you are mitigating against the risk of significant financial losses in the future. If you're worried that you may end up on the wrong side of the statistics, the peace of mind you receive down the road may be worth the premium you pay today. If your divorce is amicable and you can keep the costs low, your policy could more than cover your legal expenses.

Consult an Experienced Family Law Attorney

Life-changing events should not be entered into lightly, and marriage is no exception. While weddings are happy times, it's important to consider how getting married will impact you and your new spouse financially. This includes what will happen if the union unfortunately comes to an end.

At Access Lawyers Group, we have extensive experience advising clients on a wide variety of California family law matters, including marriage and divorce. If you're getting married or have questions about divorce insurance or other financial issues, contact us today to discuss your options.