What is the true cost of a divorce? A breakdown

On Behalf of | Dec 23, 2020 | Divorce

People often say that divorces are expensive, but saying something is expensive is subjective. That’s certainly the case in divorces, too, because how you react and interact with your divorce has just as much to do with the cost as any other factors.

The average cost of a divorce is around $12,900, according to a December 2020 report from U.S. News, which breaks down into around:

  • $11,300 in fees for your attorneys
  • $1,600 for court costs and fees for experts who advise you

Those aren’t the only costs that you’ll end up paying, though. You also have to consider the cost of debts that have to be paid off, the loss of business holdings or assets, child support, alimony and other expenses.

Court fees are a small part of the overall cost of a divorce

Court fees are a small part of how much a divorce costs. For most states, court fees will be under $500.

Attorneys’ fees add up, but they’re manageable

Attorneys’ fees can also add up, but they can be managed. If you are willing to negotiate and settle your divorce quickly, you may have lower fees. You might also have lower fees if you divorce in an area with a lower cost of living, so it’s worth shopping around. Usually, attorneys charge a retainer and then an hourly rate. Ask for that information before you get started.

Don’t forget changes in your cost of living

The cost of living on your own instead of in a family unit may have an impact on you. For those who were sole breadwinning members of the family, this might be a welcome relief that leads to less income spent on others. For those who were in a marriage with two working adults, the change could be shocking and lead to a much tighter budget.

Every divorce is different, so there’s no way to guess how much yours will cost. You do have some control, so it’s worth taking time to complete a budget before you begin working on your case. Discuss your budget with your attorney, too, so you’re on the same page.