Factors Affecting the Cost of a Divorce
Each divorce case is different from the next, so it’s impossible to gain a completely accurate idea of how much you can expect to pay as you dissolve your marriage. However, there are a number of common factors that have the most influence over those costs.
The following are some of these factors:
- Your relationship with your former spouse: You are much more likely to save money if you have an amicable relationship with your spouse and are able to communicate effectively about most of the issues at stake in your divorce — such as child custody, child support, alimony and the division of marital property. Open channels of communication mean a higher likelihood of compromise, leading to a faster and less expensive resolution.
- Your debts and assets: If you have a large estate, including homes, cars, jewelry, retirement plans, benefit accounts and bank accounts, or have a complex financial situation involving business interests and investments, it’s more likely your divorce will be more complex. In these situations, lawyers will need to analyze all jointly owned property according to state law.
- The divorce method: Again, as soon as a divorce has to be resolved in court, the costs can increase significantly. Alternative dispute resolution, such as mediation or arbitration, tends to be much less expensive and less stressful for both parties.
- Your attorney: A qualified, skilled and experienced divorce attorney will be able to help you save money and will fight for your best interests. Also keep in mind the rates attorneys charge and how they charge.
To learn more about how you can effectively resolve your divorce and potentially save on costs in the process, contact an experienced Minnesota family law attorney with Appelhof, Pfeifer & Hart.