Let’s take a look.
If you’re wondering how much a divorce costs, you’re not alone. In fact, that is probably one of the first things people think of when they contemplate ending their marriage.
And for this question…we have a very concrete answer for you: It depends on the situation.
Yes, unfortunately each scenario is different. But that doesn’t mean that we can’t give you a better idea of what might make the difference between a reasonable and costly divorce.
- Substantial or complicated assets may contribute to a higher cost.
- If you own a small business and take liberties with deducting your personal expenses as business expenses on your taxes your divorce cost will be higher.
- Significant separate property claims between you and your spouse could have an impact.
- Unproductive and disrespectful discussions with your spouse can also drive the cost up.
In our experience the most expensive divorces are fought by two parties who HATE each other for one reason or another. Sadly, the legal system is structured in such a way that these two individuals are often more angry at the end of the process than they were at the outset. It also depends on the attorney’s hourly rate and if he or she is inclined to encourage a settlement. Hiring the most expensive attorney in town known for being a shark will increase your divorce cost.
How we can help.
Wellspring Divorce Advisors coaches clients to think of their potential divorce cost as a continuum from highest to lowest rather than absolute dollar terms.
Ranked below are your process options ranked highest to lowest in cost. We have seen litigation cases cost millions of dollars in fees and mediation cases with equivalent amounts of assets done for $15,000.
- Adversarial with Settlement
- Collaborative Divorce
Click here for a brief overview of your main options or call us for an overview and consultation to help you choose. Our experience has shown the engagement with Wellspring Divorce Advisors will reduce your overall cost significantly.
One more thing.
A failed mediation can easily land you in a litigation model and cost even more. Make sure you understand mediation before opting in. The model is often misunderstood and full of less than reputable professionals.