Divorce is slowly decreasing among younger couples with the current divorce rate sitting at 46 percent in the United States. However, the costs of divorce continue to increase as court fees, attorney fees and asset division pile up on couple’s wallets.
According to a recent study done by Nolo, a legal publisher, a standard divorce costs around $15,500 with average hourly rates for divorce attorneys around $250. The standard prices do not include circumstances such as lengthy trials or child support.
How does cost vary state to state?
While different situations may influence the cost of a divorce, locations also impact how much people pay to separate from their spouse. For example, the study found a correlation between higher divorce costs and a higher cost of living in the state.
The top ten most expensive states to divorce in include:
- New York
- New Jersey
New York currently sits in the second spot for the most expensive state for divorces. The research found the average cost for a divorce in New York is $17,100. If children are involved, the average price jumps to $25,600.
Due to the growing costs of divorces, New York residents should consider how they will spend their time and money most effectively. Couples may want to plan out how they will address child custody or asset division before hitting the courtroom.