Many factors can affect the cost of divorce, and some depend on the state that you live in. However, there are several that almost always can raise the price of your litigation. If you have children and need to figure out a custody situation, that almost always makes your divorce more complicated. In addition, complicated assets or properties can drive up the price. A lot depends on you and your ex’s ability to compromise on issues. The more you can agree on up front, the quicker things can get resolved. And this will in turn keep your costs lower. There are many factors affecting the overall price of divorce, but your ability to compromise will help you save money.
Factors that Affect the Cost of Divorce: Keeping Your Costs Lower
Custody
One of the factors that almost always affects the cost of divorce is custody. If you and your ex have children, you’ll be needing to figure out a custody arrangement. This almost always gets complicated, and in turn, can take a long time. Parents want the best for their children, and emotions can run high. But the longer that litigation goes on, the higher the bill.
Complicated Assets
Another factor that can increase the cost of divorce is your assets. If you have complicated assets, stocks, or many properties, it can make things more expensive. This is because it takes longer to figure out all of their value, and how to split them fairly. If you and your ex own any companies together, this can also complicate matters.
Ability to Compromise
Your ability to compromise is the thing that affects the cost of your divorce the most. The more that you and your ex can agree on up front, the better off you’ll be money-wise. If you can figure out how you want to handle things in mediation without having to go to court, you’ll save yourself even more money. The quicker you can resolve issues, the less time you’ll be billed.
Other Factors
Many factors affect the cost of divorce, some that you can control, and some that you can’t. For example, the state that you live in will have some effect on your settlement costs. In addition, your costs also depend on who you choose as your divorce attorney. But remember, you get what you pay for, and attorneys are no exception. While you might spend more money upfront to hire a more experienced divorce attorney, the settlement they get for you will probably be worth it.
Figuring out the cost of divorce is nearly impossible to do from the beginning. However, many attorneys can give you an overall estimate of what to expect. A lot depends on your unique situation. However, across the board, there are some things that almost always raise the price. Custody battles generally make things more expensive, as well as having a complicated estate or assets. If you and your ex are unable to compromise on anything, it can make your litigation take much longer to resolve. And this can increase the price. Hiring excelling representation can also be expensive, but likely will get you the settlement you want. The bottom line is that divorce is expensive for everybody, but the more you and your ex can compromise on, the lower you’ll keep your costs.