High Net-Worth Divorces
Much is at stake in every divorce, but when there is a family business or significant assets involved, the spouses have each gotten used to living a lifestyle within their means. They have purchased vehicles, homes, vacation homes, furniture, decor, paintings, clothing and have contributed a large amount of money to pension and 401k programs and to the stock market. Additionally, children may be involved. Schooling and extra curricular costs and parenting time is at stake.
Because of these things, spouses that have accrued a high net-worth or many assets tend to be significantly more expensive than an average divorce. This is because where there is much to gain, there is also much to lose. It is important for each side to get legal representation. These divorces will run anywhere from $40,000 to $70,000 to resolve, but a beneficial resolution will be worth much more than that.
The Mid-Range Divorce
This range of divorce is often those who have one primary wage-earner and have been married for a longer period of time, have accumulated significant assets, have equity in their home, and have minor children. Both spouses are typically represented by attorney's and want to ensure the safety and health of their children and have a genuine concern over their own welfare going forward.
These cases come down to what each spouse has earned in the past and what the court can expect the spouses to earn in the future. Once this is determined, the court will split this amount fairly in order to ensure that each side is taken care of. This could mean child or spousal support is ordered, which is a primary goal for some spouses in their divorce. If the spouses disagree and cannot work out an agreement and a trial takes place, these divorces can cost anywhere from $15,000-$35,000. Again, this amount is usually borrowed from a 401k fund or realized after the sale of the marital home.
Modest Assets (most common)
This is the most common divorce scenario because most marriages have accumulated enough assets where each side needs an adviser to evaluate their earnings, assets, and expenses and help the couple split these assets 50/50. Typically, both spouses own a car and the couple has purchased a home together. The marriage may have one or two children. The costs of these divorces seem to vary depending on whether one spouse digs in or not. The typical modest asset divorce costs between $5,000-$12,000.
Uncontested with limited assets
These divorces are clean and simple. Both sides agree on what property or what action they seek with their belongings and children. Both sides agree that divorce is the best scenario. And there aren't significant assets at stake. Court costs are anywhere from $400-$1000, and if you decide to retain an attorney, it will only increase slightly because the other side is not fighting the matter. Even if both sides hire an attorney, the cost of these divorces will only be about $2,500.