How Much Will My Divorce Cost?
Estimating the Expense Associated With a Divorce Requires a Holistic Approach
If you are considering divorce, you may be wondering how much it will cost. According to Forbes, the median cost of a divorce in the U.S. is $7,000, while the average is $15,000 – $20,000. The actual cost will depend on your unique circumstances, including the assets that must be divided, any children who must be accommodated, and how contentious the situation is between you and your spouse. Simple, uncontested cases can be as little as a few hundred dollars, while complex, drawn-out cases can run much higher, with some couples spending more than $100,000 to dissolve their marriage.
Thinking holistically, you may also encounter costs beyond fees for the process. Common expenses during divorce include:
- Court Fees
- Legal Advice
- Mediation
- Additional Child-related Expenses
- Relocation
- Mental Health
- Restart
Court Fees
Dealing with the government can be daunting. Filing legal paperwork can be difficult and sometimes fraught with anxiety. However, with an uncontested divorce where both parties agree, it is generally not that complicated or expensive. Filing fees vary by state, but are typically around $250 – $500.
If all parties agree to terms ahead of time, it may not cost much more than the filing fees. In many cases, though, there is at least some need for arbitration or mediation to resolve any conflicts. Even if divorce is uncontested, you may want to seek legal advice to ensure that your interests are protected. In those situations, lawyers must be hired, which increases costs.
Legal Advice
A lawyer will cost around $300 – $400 per hour or possibly more for top attorneys, depending on location, the complexity of your situation, and the size or nature of marital assets. Some firms may offer a fixed rate for certain services. If the proceedings take a long time or multiple appearances have to be made in court, costs are likely to increase.
Mediation
Mediation can sometimes reduce legal fees by providing an open forum for both parties to air their grievances and come to a reasonable conclusion. The cost of a mediator is about $100 – $400+ an hour, depending on the type and experience of the mediator. Attorneys are often part of the process, and their hourly rate will usually apply. You may want to have legal counsel on retainer so that you can ask questions and ensure you are protected throughout the process. Mediation doesn’t work for everyone, and having an attorney on hand in case it fails could also be helpful.
Additional Child-related expenses
Outside of child support, you will have to create a safe and secure home for any children involved. Having two households means twice the food, clothing, and shelter have to be provided. You want to ensure that the kids feel as little disruption as possible, so you’ll have to spend the money to create a fun and safe environment for them, as will the other parent.
Beyond the Court Room
A divorce is a major life change, and you’ll have to set up many things to start a new life and get back to a place where you feel steady and ready to move on. The outside costs of this process can be significant, depending on your situation.
Think about what comes next in life and make a financial plan
With planning and forethought, you can build a new life and find a better path
Relocation
You’re going to need a place to stay. Unfortunately, this will often be a sudden need, which may bring unfavorable financial terms, at least for a while. The cost of getting set back up can be significant. Enlisting the help of friends or family and staying in a spare room while the proceedings unfold can give you the space to get back on your feet so you can start a new life.
Mental Health & Well-being
Divorce is a significant life event and can be traumatic. It is important to find support and remember that you are not alone. Always know that there are people who want to help you.
Resources to explore include therapists, divorce groups, and support services from your church, synagogue, or place of worship. There are many options that offer help navigating divorce that can provide balance for your mental health and well-being. Consult your health insurance to understand potential coverage and costs associated with care options for you and any children that may be involved.
Restarting Your Life
It’s a new day. Take a breath. Watch the sunrise, and let yourself feel the anticipation. You can create your own world as you find your way forward.
It isn’t going to be easy, but you’ve got this. Think about what comes next in life and make a financial plan. Consider the down payment on a new house or deposit on an apartment. Think about travel expenses and maybe buying a vehicle. Remember to factor in the costs of kids, food, and utilities.
Don’t panic! You have everything you need. Understanding the costs of a divorce means you can adjust and accommodate them. With planning and forethought, you can build a new life and find a better path. The future is open to you.