Are you thinking about divorce and wondering how much it will cost? Or perhaps you are already in the midst of a divorce and trying to figure out just how expensive it has been so far. One way of estimating what your expenses might be is by looking at statewide averages.
Factors that affect the average cost of divorce
The cost of divorce is not the same across states or even for one state. Different factors can influence the divorce Cost, including how long the process takes, whether lawyers are required, whether there are children involved in the case, and what city someone lives in. It is helpful to think about the time frame that the couple is divorcing over, as well as how much community property they have accumulated.
Divorce lawyers and their fees
A large portion of the cost is likely to come from legal services, so it’s important to understand what you can expect. The average fee for a divorce lawyer in New Jersey varies depending on location and experience level, with some charging more than $500 an hour while others charging as low as $100 an hour.
Real estate and property division
Some of the most expensive costs can come from dividing up a couple’s real estate, including how much each person will have to contribute towards their new homes or apartments. A lot of people also struggle with dividing retirement accounts — pensions, 401ks, IRAs — in addition to other assets like cars, stocks, and bank balances.
Divorce costs in New Jersey
If you want an exact idea of what your divorce might cost overall, it is best to speak with a legal professional who can help guide you through the process. However, some people opt for more affordable services that allow them to file the initial paperwork, which usually costs less than $500.
Options to control the Cost of Divorce
Option 1: Do-It-Yourself Divorce
One of the most obvious ways to do it yourself is by filling out the paperwork yourself. This is typically the cheapest option but also quite time-consuming if you want to make sure that everything goes well. If you are not confident in your paperwork skills, there may be an easier way for you to go about doing this. Many states now offer do-it-yourself resources where you can find forms and instructions to complete your divorce without getting an attorney.
Option 2: Internet Divorce
Internet divorce is a form of do-it-yourself divorce where you can take care of your paperwork online. This will save you time and money because there is no need to hire a lawyer or go to a courthouse. You simply fill out a few forms and upload them together with any other required information to the website. The site will form your documents for you and then mail them to the appropriate court.
Option 3: Mediation
Mediation is another option that may be less expensive than hiring an attorney, but it has its disadvantages too. These include not being able to use this method if there are custody issues involved, as well as the mediators having only limited powers to make decisions.