Financial Aspects of Divorce
If you are worried about the financial aspects of divorce bogging you down for years to come, the best thing you can do is talk to an attorney and see just what you can do to make sure your needs are taken care of. In the meantime, here is what you need to know.
Financial Aspects of Divorce | Requiring Your Spouse to Pay the Legal Fees for Divorce
In New Jersey, when one spouse has inadequate means to afford legal representation, and the other spouse, in fact, does have more than adequate means to provide same, you could file a complaint for divorce and seek attorney fees from the other spouse. That would depend on the complexity of the divorce and the disparity in income between the spouses. There are other factors that could also be involved, but there are many instances in which one spouse can get either the full attorney fees or partial attorney fees from the other spouse.
Financial Aspects of Divorce | The Cost of a Divorce
In New Jersey, the cost of a divorce varies. That’s the first question I’m usually asked. “Well, how much is this going to cost me?” It’s almost impossible to tell you unless the divorce is uncontested, there are no assets and no children, and no issues. A divorce with high assets or assets such as home ownership or children doesn’t have to be expensive if the parties can come to an agreement early on or even before they get divorced. The cost typically is going to start at least $1,500.00, plus the filing fee, for an uncontested divorce. If it’s contested and there are assets and issues of custody and child support, initial retainer could be anywhere from $3,500.00 to $5,000.00 or more depending on the particular circumstances.
Financial Aspects of Divorce | Splitting College Costs in a Child Custody Situation
In New Jersey, the laws concerning contribution for college depend on several circumstances, mainly the respective incomes of the parties. The child first must try to obtain any scholarships, or grants, or student loans that are available prior to the parents being required to pay for college. The parents would pay in proportion to their income and certainly with respect to their ability to pay.
If you want to know more about the financial aspects of divorce, please call our New Jersey divorce lawyer today for a free case review!