The Cost of Divorce/Martin Rosenfeld

Posted on February 16, 2011

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An article on the economies of divorce was recently penned by Kathy Kristof. Ms. Kristof cites a study of a Divorce Attorney, Mark Baer, who found that married couples have more assets than do individuals only so long as they are married. Upon divorce, there is an economic equality between that same couple and the average individual. Where did the economic advantage go? You probably guessed it. That money went to pay divorce attorneys.

According to Attorney Baer: “By the time you pay the legal fees, you’re going to spend more than the amount you were fighting over.” Ms. Kristof suggests that instead of investing in divorce attorneys, couples should rather pay for therapists and courses in co-parenting.

Most cases will lead to a result where marital assets are split virtually evenly. Attorney Baer therefore recommends that the couple split assets themselves via bank statement, stock statement, and credit card statement review. A house can be appraised as can the value of a pension plan. There are many ways to divide these assets, once they are identified. Mediation provides one such option. As Ms. Kristof concluded:'”Anything you can do to reduce fights will reduce costs.”

Equity and fairness goes a long way. You can mediate, discuss, arbitrate your differences or you can support the legal profession via handsome legal fees. If you wish to cut the cost of divorce, the former option would appear to be best for each party. Try your hand at civil divorce. It is clearly in your interest.

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