Are Divorce Costs Linked to Personal Income?

A person's income has an effect on the goods and services they purchase. Those that without the funds to shop at luxury boutique will likely not show up at one, while those with enough money may shop there too often. Services such as attorneys are oftentimes no different. The extent of legal representation that a person selects is often linked with how much they are able to spend.

How Wealth Affects Legal Fees in Divorce

The best examples of pricy divorces are those obtained by celebrities. With divorce settlement reaching the hundred million dollar range, the amount of money paid out to attorneys may also be extremely high. This not only has to do with the settlement number, but also desired legal protection and privacy. Divorces are not one-size-fits-all, the more protection or extensive legal services a person needs during a divorce, the more expensive it will likely be.

When asking about the cost of the divorce, many are interested in knowing how much an attorney costs and any legal fees they may be facing in their case. Unless the attorney is charging a flat-rate fee, the costs of divorce can fluctuate depending on the length of the divorce and the amount of work the attorney is doing.

If concerned about the amount of money a divorce may cost, follow these tips:

  • Set realistic expectations with the legal team and work with them to ensure they are met
  • Be part of the attorney's decision making process
  • Use mediation to ease some costs of the divorce
  • Do not let emotions cause the divorce to take longer than it should
  • Understand that what is fair may not always be what each spouse wants
  • Hire a divorce coach to answer questions

There are many individual steps a couple can take to minimize the costs of their divorce. It is always a good idea to schedule a free consultation with Claery & Hammond to determine costs of your potential divorce and how to minimize the expenses involved.