One of the most frequent questions I am asked about divorces is how much it costs and how long does it take. Thanks to a recent study, we have some updated numbers.
24/7 Wall Street reported on the results of the study, which focused on each state. Their numbers are based on 2015 data from Nolo.com. Here are the NJ results for a litigated divorce:
- Avg. cost of divorce without children: $15,200 (5th highest)
- Avg. cost of divorce with children: $23,400 (6th highest)
The average divorce has $12,300 in attorney’s fees ($19,700 if minor children are involved). The average hourly rate for a divorce attorney in NJ is $320/hour.
The length of time to complete a divorce is 16.5 months on average. If it required a trial, the divorce took 21 months. A settled case goes through in 3-6 months.
A mediated divorce should cost $6-8,000 and will proceed as quickly as the couple wants to move the mediation process. The court process will be 3-6 months, depending on how backed up the court is at filing.
No two divorces are the same. There is often no such thing as an average divorce, but these numbers should be illustrative of what a “typical” divorce might cost.
Mediation is cheaper and quicker, as the numbers show. Mediation is also less destructive and often results in better outcomes for the spouses. Contact me to discuss how mediation can help your divorce.
HT to my colleague, Charlie Abut, Esq.