In an article released by Forbes, divorce proceeding ranged, on average, from 15,000 to 30,000 dollars and in places like New York, that figure could even be multiplied by a few digits. However, for the average person, the cost is still pretty steep. You’re probably wondering how that figure possible be correct. To understand where this figure is coming from, it’s probably best to break down the major costs of a divorce.
Average Cost of Divorce: Breakdown
Let’s start off with one of the biggest costs, lawyers. While lawyers have different rates, even the cheapest ones can be costly to the average person. A lawyer can charge anywhere from $100 dollars an hour to $500 dollars an hour for top-quality firms. When you involve a highly volatile relationship with children and high-stake finances, the choice in lawyers and their fees can rise, just to ensure you get the things you want out of a divorce. That’s why it’s so important to remain civil with your spouse during this time.
A civil divorce can even be costly. Hiring a divorce lawyer with mediation training and experience (which is recommended) can add a few thousand dollars on your fee, but usually settles things quickly and fairly.
Owning property, while great before, can actually pretty terrible if you’re going through a divorce. Owning joint property usually comes with filing, lawyer management, and many other fees that make sure when you sell your home; each person gets their fair share. It’s just very inconvenient to have that money taken away, as you try to find a new home for you or maybe even your family.
Average Cost of Divorce: Advice
You can start to see how varying degrees of lawyers and law firms, combined with property and children, can add up the fees to equal a significant amount. Something to consider, if you don’t like the average cost of divorce, is having an uncontested divorce. Typically, this involves the couple agreeing on every aspect of the divorce, making it much faster and cheaper. Working out the details beforehand can really go a long way to saving the both of you money.