Often, no matter how hard you try, a divorce becomes inevitable. When that happens, the first question that usually comes to mind is, what will it cost? Unfortunately, there isn’t an easy answer to that question. There are a lot of determining factors. This is evident when you consider the high-profile divorces of movie stars, celebrities, and politicians. Headlines blast divorce settlements that are in the millions and billions of dollars range. On the other side of the spectrum is the couple who have very little shared property and are splitting amicably. Children are another big factor that can really raise the cost of a divorce. Attorneys and court fees are also big costs.
If you and your soon to be ex get along famously and just mutually agreed to call it quits you’ll find the cheapest divorce of anyone you know. Being able to agree on alimony, child custody and division of assets will save you both money in the long run. Attorneys and court costs go up with each little thing they must settle for you. If you can do it yourselves, all the better. If you cannot settle things on your own, and staying in the same room is difficult, you should be prepared to spend more than you ever wanted too in the cost of a divorce.
Marriage which contain intricate financial relationships like businesses or investments, or a substantial amount of property such as homes, vehicles, jewelry and bank accounts can drive the cost of a divorce astronomically high. These costs are so expensive because attorneys must diligently go through large and complicated financial records and evaluate them based on state law and decide if the assets are martial, which means jointly or separately owned. Your attorney may suggest you acquire the services of a Certified Divorce Financial Analyst, or an expert in pensions and/or real estate. Click Here For the 17 Most Expensive Divorces Of All Time.
Attorney fees are to be expected in the cost of a divorce. At the very least in an uncontested divorce you will need an attorneys signature and to file it with the state. For the people who aren’t so lucky with their divorce it can cost a lot more. It is best to ask an attorney about their hourly fees before you hire them. Also, ask about extra costs such as photocopies and file setups. Don’t make any unnecessary phone calls or emails to your attorney because they charge for those too. Any time at all spent on your case is billable to you.
There are several different routes you can take that will diminish the cost of divorce. Going straight to divorce court with a list of unagreed upon issues is the most expensive way to end a marriage. Even if you have some unresolved issues, you can use a mediator and cut your divorce costs considerably. A mediator is an unbiased third party that can help spouses come to agreement on their issues. It cuts out a considerable number of attorneys and court fees. Pro Se Litigation is another way to save money. In this type of divorce, you represent yourself in divorce court. You pay only for court costs and filing fees. Still yet, there is the collaborative divorce. On the onset, this can be pricey as you are paying for two attorneys, double specialists and experts. However, this process is usually speedy and less costly than long drawn out litigations.
The cost of a divorce varies depending on the state in which you live. (Divorce Rate By State) When deciding which process to take, make sure you take some time to familiarize yourself with the state divorce laws. Know what your rights and responsibilities are before you decide to hire a lawyer. Knowing where you stand can help you make a more informed decision. Divorce is a hard time for even the most congenial of spouses. Make sure you take your ex’s feeling into consideration and it can make things a lot easier.