When Divorce Costs Are Overwhelming and What Are Your Options?

The emotional cost of a divorce can be considerable – and it can, in many cases, be exacerbated by the financial costs. When you’re going through the process, having control of your money is critical to your well-being, not just in the short term, but in the long term, too.

Why Divorce Can Be So Expensive

It’s worth looking at some of the different costs associated with divorce. If these are not properly accounted for, they can quickly accumulate. You’ll need to pay for the expertise of your lawyers, and for the use of courtrooms and all of the staff that they employ. There’s also the division of assets, which can be harmful to both sides even if it’s entirely equitable. If you’re used to splitting the cost of your mortgage, utilities, and other bills, then the adjustment to life as a singleton can be jarring.

Understanding Divorce Fees and Legal Costs

The court fee sits at just under £600. If you need additional court time to deal with child arrangement orders, then you’ll pay an additional £232. Financial orders, which deal with the splitting of assets, come in at around £275, while consent orders cost £53.

The fee charged by your solicitor will vary dramatically depending on the pedigree of the firm and the part of the country you’re based in.

Exploring Options for Financing Your Divorce

Staying together for financial reasons is rarely a winning long-term strategy. But if you don’t have the savings you need to meet these costs, then you might have to look for other sources of money – including appealing to friends and family members, or taking out a loan. A divorce loan is specialised to these circumstances, and can be a great option for those unable to cover the costs up front.

Can Mediation Help Reduce Costs?

If you decide to go down the mediation route, then you can often reduce your costs considerably. This is because mediation doesn’t require the use of a courtroom. All that’s required is a neutral third party, called a mediator, to facilitate the discussion and help you to agree on key points like child custody and support.

However, since the cost of a mediator can vary, and it might not be clear at the outset how many sessions are required, it’s difficult to say how much mediation will ultimately cost.

How to Budget for Your Divorce

If you fail to budget properly for your divorce, then you may be more likely to run into difficulty. Make sure that you set out a budget ahead of time, and that you account for every anticipated cost. You can estimate this based on courtroom fees, your solicitor’s rate, and the spousal support you expect to have to pay. Make sure that you leave enough spare cash available to deal with expenses you don’t expect.