There are many considerations that are important in any divorce process. As your family changes, you will have to think about where you will live, what your children’s custody schedule will be, and the best way to navigate changes with minimal disruption. However, one of the biggest concerns that many clients have is how the divorce will affect their finances.
Many people understand that divorce is not inexpensive. Not only do you have to pay for certain legal fees, but you also lose half of your assets to your spouse. This puts many people in a very different economic state than they were in during their marriage.
The best way to prepare for divorce is to estimate how much yours will cost. This can help you to navigate the complicated world of divorce law while keeping to a budget that works for you.
Attorney costs are part of your economic responsibility during a divorce. The amount that you will pay for your attorney depends on the attorney’s experience and the complexity of your case. This is because many divorce attorneys charge hourly, so if your case is complicated and requires special care, you will likely have to pay for more hours of their time. The average hourly rate for a divorce attorney in New York is $350 per hour.
It is extremely important to discuss attorney rates with any lawyers that you are considering for your divorce. Though $350 per hour is a fairly average portrayal of divorce attorney costs, many attorneys charge differently for their services. Some charge more or less per hour, while others charge flat fees or a percentage of your settlement. In order to fully understand your financial obligation, you should have straightforward conversations with any attorneys that you interview.
Some people believe that they can save on their New York divorce costs by representing themselves. Though this may be true, it is usually not worth it to explore this route. Often, those who represent themselves end up with smaller settlements and are usually taken advantage of in court. Your spouse’s attorney will capitalize on your inexperience in order to earn more for their client.
If both you and your spouse agree, you may be able to use mediation rather than litigation in your divorce. In this system, only one attorney is required between the two of you. You and your spouse negotiate your own terms while the mediating attorney ensures that the agreement is fair and facilitates all necessary conversations. Though this is valid for some couples, it may not be available in your divorce. If your divorce is particularly complicated, or if you and your spouse cannot negotiate fairly, then mediation is not an option.
In all courtroom divorce litigation situations, it is essential to have attorney representation.
Another major factor that can affect the cost of your divorce is children. If you share children with your spouse, your divorce process must develop a child custody schedule and determine whether child support is necessary. Mediation may not be an option for those who need to negotiate these things, which increases the overall cost of the divorce.
In some situations, a court may require that one spouse pays for the divorce costs. However, in other situations, each spouse is responsible for their own divorce costs. In yet other scenarios, the cost may be deducted from shared money or your divorce settlement. Be sure to consider these choices at the beginning of the divorce process, and negotiate with your spouse through a qualified attorney so that you are prepared for any costs that become your responsibility.
The fastest, and therefore cheapest, way to get divorced in NYC is to file for a “no-fault” divorce. If you try to declare your spouse at fault for the divorce, you will have to spend time and resources to properly prove that they are at fault for what happened. If you file for a “no-fault” divorce, you have nothing to prove. Additionally, uncontested divorces and divorces using mediation are usually less expensive than courtroom litigation.
Though it is possible to get divorced without attorney representation, it is not a good idea to attempt this route. Many people who try to represent themselves do not get the settlement, child custody, or child support terms that they deserve. With an attorney on your side, you have someone who understands the process and can advocate for your needs and ensure that you are set up to begin your new life outside of marriage.
Though uncontested divorces are the least expensive option, you should still be aware of the costs associated. Most people spend approximately $5,500 during an uncontested divorce. $335 of this is for the court filing fees, while the rest accounts for attorney costs and other costs associated with the divorce process. Though this is significantly less than you would spend in courtroom litigation, it is still important to be financially prepared for a divorce of any kind.
For many years, our firm has been helping New York couples to navigate the complicated world of divorce. Through our time in business, we have gained unparalleled expertise in divorce and family law, giving our clients essential resources that they cannot find anywhere else. We are passionate about protecting our client’s rights and wishes during negotiations and work tirelessly to achieve the best possible divorce terms in every claim. No matter what your situation may be, we are here to give you the legal divorce support that you need and deserve.
Our team is ready to help you through this difficult time. For more information, please contact Trotto Law Firm, P.C. online today to schedule a consultation.
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