Don't Let Your Divorce Bankrupt You: Save Money on Legal Fees

podcast Mar 21, 2024

Are you worried that your divorce is going to bankrupt you? Divorce lawyers are expensive, and it's common to worry that your legal fees will drain you financially, especially if your husband is high-conflict or a narcissist.

The average divorce in the United States costs each person about $15,000 in legal fees. That's a ton of money, and you are probably wondering how you're going to swing that. You likely are concerned about getting through this divorce without a ton of debt from attorney fees. But how?

I have Attorney Kimberly Cook on my Find Me The Money podcast this week to discuss the cost of divorce and how to save money on legal fees. She is a seasoned divorce litigator and mediator who also provides resources to women going through divorce with her platform “Grown Girl Divorce.” Kimberly says it’s important to be intentional and smart when engaging an attorney for your divorce because you don’t want the divorce process to bankrupt you.

Ask Good Questions About the Attorney's Fees

When you have a consultation with an attorney you're considering hiring, it is important to ask good questions about the money. You need to know more than just the hourly billing rate of the attorney. You also need to know the rates of other law firm employees who may work on your case, the firm's billing practices, and their billing increments. This can vary from firm to firm, so you should know these details up front.

While your attorney doesn't have a crystal ball, he or she should be able to give you an estimate for what a case like yours may end up costing. At the very least, he or she should be able to give you a range of fees based on how much you and your husband agree on or how much conflict you anticipate.

The Ultimate Cost Saver: Mediation

One excellent way to save money in your divorce is through the process of mediation. Having mediated many divorce cases, Kimberly knows that a less contentious process is often also less costly.

A less contentious divorce process also benefits you long-term. Many people have to co-parent with the ex-spouse after the divorce is over, so to the extent that you can be more cooperative during the divorce, there will likely be benefits afterward.

Listen to the full episode for more tips on saving during your divorce.

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