Divorce proceedings are not cheap. They can reach five figures if attorneys are involved. While the average cost of divorce in the United States ranges from several thousand dollars, location and other factors can significantly impact this figure.
Average Cost of Divorce
Getting a divorce is not a cheap process, but the cost will depend on the individual’s financial situation and how contested the divorce is and whether the case goes to court.
What Affects the Cost of Divorce?
The total cost of divorce will depend on the financial situation of the spouses involved. Below are more details about the various factors that will impact how much money you will spend on divorce.
Attorney Fees
The total amount that will ultimately be paid to your divorce attorney will depend on how much time and effort it takes to reach a final agreement, making the final amount unpredictable.
Complexity of Assets and Liabilities
The types of assets owned and liabilities owed by the parties involved (such as bank accounts, investments, real estate, business interests, credit cards, and loans) can affect the cost of divorce. Financially complex cases may require more time from attorneys and others.
Arbitration
There is also the option of arbitration, which is usually less costly compared to a divorce that is filed in court. “A neutral helps reach an agreement on issues related to the divorce,” said Sandra Radna, founder of Sandra M. Radna Offices, and author of the book “You’re Divorcing… Now What?”.
Children
Couples with children often have to spend more on divorce compared to those without children. This is especially true if the parties involved cannot agree on how to handle child custody and upbringing. The cost of divorce involving children averages around $15,000.
Spousal Support
Spousal support (also known as alimony) is the financial amount that the court may decide the higher-earning spouse is obligated to pay to the other spouse after the divorce. In some cases, it may be necessary for the spouse to pay temporary spousal support while proceedings are taking place in the case of a contested divorce.
Other Professionals Involved in the Case
In addition to attorneys, you may also have to hire and pay other professionals to assist you in evaluating assets and resolving disputes. For example, you may need to hire a real estate appraiser, accountant, financial planner, estate planning attorney, therapist, or another professional to assess your assets.
How Much Does a DIY Divorce Cost?
Radna stated that a DIY divorce can cost less than $1,000 and can be beneficial in some cases. If you are facing an uncontested divorce, have been married for a short time, do not have children with your spouse, and/or both parties agree to the divorce, doing it yourself may be the best option.
Contested vs. Uncontested Divorce
An important factor is whether the case is contested or uncontested, according to Frances. “A contested case means the parties are arguing over one or more issues, whether financial or related to children, or both,” Frances said. “If the case is contested, the parties will need to resolve the disputed issues.”
Conclusion
The cost of divorce can vary widely depending on many factors, especially the level of cooperation between the parties involved, whether they have children, how complex their financial situation is, and their geographical location. When seeking a divorce, it is important to understand how much it will cost and be prepared to bear that expense. Taking steps to avoid time in court will help reduce costs.
Questions
Frequently Asked Questions (FAQs)
What is the average cost of divorce?
The average cost of divorce in the United States is $7,500. However, these figures can vary significantly depending on a number of factors, including the location of the couple, whether they hire a lawyer, and whether the divorce is contested.
How much does a divorce lawyer cost?
Nationally, divorce lawyers charge an average of $270 per hour.
What is the cheapest cost for a divorce?
The cost of divorce is much lower if there is no need for a lawyer or time in court to reach an agreement. At a minimum, divorce requires court fees, which typically range from several hundred dollars. However, if you cannot afford those fees, you may be able to apply for a waiver.
Source: https://www.thebalancemoney.com/how-much-does-a-divorce-cost-6891344
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