If you are divorcing Soon, you may be devastated – or thrilled. Often, divorces are not so terrible – it is the weeks, months, and years that lead to the end of a marriage dispute that can be intermittent. But while your feelings can be everywhere, one thing is constant in all marriages that end: Divorce is expensive.
So what does your wallet have to look for during a divorce? We will give you a breakup financial break.
Average cost of divorce
It is a folly to look at the numbers and compare what it would cost an “average” divorced couple. If you are rich, you are going to spend a fortune, and it will probably be far more expensive than average. If you are middle class, you will not spend what rich couples spend, but it will still be unpleasant.
Still, if you want a number, many sources suggest $ 15,000 as the total cost of the divorce. The legal website Nolo.com suggests the average total cost is $ 12,900, including $ 11,300 in attorney fees and $ 1,600 for court costs and fees for tax advisors, real estate appraisers and other experts.
However, those numbers are very low in many ways – if you start thinking about the expenses that will be incurred by you, then, pay support or lose the spouse’s health benefits and get them on your own Have to be covered. Also, you can move from a two-income house to one.
So if you are looking for a better picture of the types of budget requirements for a divorce, you will need some of them.
How Much Does Divorce Attorney Fee Cost
As stated, they can be high. Demetria Graves, a certified family law expert and managing partner at The Graves Law Firm in Los Angeles, says that if both spouses employ a lawyer, the cost can range from $ 2,500 to $ 50,000.
Assuming that some salty salts are now reviving you, keep in mind how much you spend on a divorce lawyer, according to Graves, whether you have five hours or more of a lawyer’s time being complicated. One is a simple dissolution to take, taking about 20 hours. It is also based on what you will pay for a divorce in Los Angeles. If you live in a city with low cost of living, you will pay less.
Generally, you pay these fees on a retainer, according to Graves. She says: “If you get over the retainer, you’re charged at an hourly rate anywhere from $ 200 to $ 2,000 per hour.”
How much court can file for the cost of a divorce
Expect to pay at least several hundred dollars. Graves says the initial filing fee is – in LA, it’s $ 435 – the speeding fee ($ 90 to $ 115 in Los Angeles) and the court reporter fee. She says: “Most attorneys charge for court hearings, deposits, parking for court hearings.” Well, you get the idea.
Court filing fees, meanwhile, vary by location. In Indiana, the filing fee is $ 157. In Maine, it is $ 120. In Kentucky, it is $ 148 without a lawyer and $ 153 with one. If you live in Alabama, you will pay $ 400, and also $ 400 in Kansas. All you have to do is type your state into a search engine with “court filing fee costs”, and you can find your state’s data.
How much to sell for home expenses when you are getting divorced
It is impossible to say what you are going to pay, but it is your most valuable asset, and so whether you are keeping it or the other person has it, you want to handle it carefully.
Just one example of what to consider when selling a house in the midst of a divorce:
“Many times while divorcing, the couple decide to split the plan to sell the matrimonial home. But the house may need to be updated or repaired to prepare the house. So if a spouse intends to sell the house Living in. Cathy Helbig, owner and broker of Experience Realty Partners in St. Louis, says, “When you’re factoring in potential net income, be sure to keep repairs and costs in mind.” Helbig is a certified divorce real estate Expert and helps divorced couples sell their homes.
Living expenses during divorce
If you are moving from a two-income home to a one-income home, your household’s revenue may be lower, while your living expenses may always be much higher. You have to think about your rent or mortgage, car payments, utilities and all your living expenses. You know that, for sure, but make sure you’re thinking about it when you make a budget. You will also want to put aside money for emergencies.
If you are going to pay for spousal support or child support, this is something else for the budget.
Vested vs. Uncontrolled Divorce Costs
It is really important to remember that if you are going to get divorced, it is going to be more expensive for you, if you have a Uncontested divorce. For those who don’t know the difference because you don’t spend a lot of time thinking about divorce, an uncontested divorce means that you two agree on how you are dividing everything. For a divorce usually means that you have a major disagreement on something – or perhaps everything.
Granted, sometimes an uncontested divorce cannot be helped. Both of you disagreed during the marriage. It should not be a shock that when you are separating you cannot come together for a mind meeting. But if you can have an uncontested divorce, in the end, everyone will spend less – and if you have children, they will benefit emotionally, not seeing two people they love so much who go to war Huh.
Both of you will also benefit emotionally.
“Money costs in conflict. The more a divorced couple fights, the more expensive it will be,” says Helbig. “So the cost of the fight is going to be higher than the cost of the fight. It’s not uncommon to handle people’s emotions, which causes them to spend $ 5,000 in attorney fees which is only equal to $ 1,000.”
What to do if you can’t reduce the cost of divorce
If both of you agree that you should divorce, you can probably get it done, even if you are usually broken. You’re just going to do it in an unconventional, possibly incremental way. You also have to work together To make divorce as cheap as possible, which can be good – if it helps pave the way for one Happy life after marriage.
In other words, you will not be the couple who each employs an expensive divorce lawyer. No one is going out to hire that lawyer and take over the penthouse apartment. This one is going to be more of a divorce on its own.
For example, Daniel Hill, a certified financial planner and president of Hill Wealth Strategies in Richmond, Virginia, says, “For my clients who want to get divorced but feel they can’t afford it, I want them to end the marriage I advise on the option of. But still remaining within the same house. This will save both sides from expenses related to going out, alimony, babysitting and potentially long hours of work. “
It may seem impossible, but a short two-season sitcom, “Splitting Up Together”, was based on that premise. This does not mean that you get divorced and live together for years. Maybe six months. Maybe it is four to six weeks. But instead of someone rushing out and paying for a hotel or apartment they can’t afford, if both parties go through the divorce process, but stay together until they break up financially without destroying themselves Can, it can make sense.
And cohabiting in the meantime can not be terrible, if the two of you usually like each other but feel like you can’t stay married. But this is a strategy that will not work for everyone.
Ways to avoid expensive divorce
Please agree soon where you can. No one is saying that you should be doormat. Sure, You need to stand up for yourself. “If you can reach an agreement with your ex on your own, then you can draft a contract to a lawyer so that you know it is done correctly, and that it is better to negotiate your divorce with a lawyer Much cheaper than it is to do, ”Emily Rubenstein, a divorce lawyer in Beverly Hills, California.
“If you have questions for a lawyer, but do not require full representation, many divorce attorneys provide unhelpful counseling services,” he says.
Or you might not be able to handle everything but you can deal with some things, Rubenstein says. “Even if a couple cannot do all of this on their own, the less lawyers, arbitrators, and other divorce professionals they need, the less expensive a divorce will be. If a couple is concerned about three out of five issues They can have a settlement, they will have. Even more economical divorce if she says they cannot resolve any issues.
It is a disappointing irony, however, to manage to keep things from ending harmoniously and to keep their costs down during a divorce. You have to work together to try and make sure that each of you is as happy as possible. In other words, each of you may need to be the type of partner you wished the two were with each other during the marriage. If so, you can think better about divorce.