If you are getting divorced, then money can be a major concern for you. You might be scared about how you support yourself after the divorce or worried that you will have to pay spousal support to your ex.
Because money is commonly a high priority for divorcing couples, it can be helpful to understand that different dispute resolution methods cost different amounts. For instance, resolving your issues through mediation can prove to be far less expensive than resolving them through litigation.
How much does mediation cost?
Broadly speaking, mediation can cost around $5,000, according to estimates from Forbes. People going through mediation will typically have to pay for the mediator, legal representation and the cost of preparing the necessary documentation.
Keep in mind that this is just an estimate and that every situation will be different. Costs can increase if you cannot resolve your issues in one or two sessions, and they can decrease if you are able and willing to manage certain aspects of the divorce yourself, like tracking down financial information.
How much does litigation cost?
If you go through litigation to resolve divorce-related matters, you could be looking at much, much higher costs. According to that same Forbes article, a litigated divorce could cost upwards of $25,000.
Again, this is a very general estimate that will be different for everyone. Costs of litigation can increase as the number of hearings and motions increase, and they can decrease if you are able to finalize everything quickly and with minimal contention.
Which option is right for you?
Whether you go through litigation or mediation will depend on your priorities as well as on the details of your divorce.
In either case, it can be crucial that you have an attorney by your side to guide you through negotiations in mediation sessions and/or fight on your behalf in court. Discussing your options with your attorney can help you manage your expectations and make informed decisions about how to navigate this difficult time.
