A recent analysis was published regarding the cost of a divorce in New Jersey. According to the study, the average cost of a divorce without children totals $15,600 and with children, the cost increases to $23,400.
One of the first questions I am asked during an initial consultation is how much the divorce process will cost. My response is always the same: There are two people that control how long a divorce takes and how much a divorce costs and those two people are the parties. As soon as the parties reach an agreement, they can be divorced within four (4) to eight (8) weeks. Clearly, reaching an agreement is key. 98% of couples are able to reach an agreement. Some may take a few months while others may take years. The more the parties can cooperate, communicate and compromise, the shorter and cheaper their divorce will be.
There are a few approaches the parties can take to reach an agreement. One, they can litigate their case which takes a long time and is the most expensive. Two, they can mediate their case by utilizing a neutral third party mediator to help facilitate the settlement negotiations. Three, they can arbitrate by selecting and paying for their own Judge. Lastly, they can move forward collaboratively where the parties contract to stay out of court and to settle their case.
The best long-term solutions to couples going their separate ways, generally, are the ones they played a part in negotiating. Not only does this serve their goals, it also costs less and takes less time. In other words, the cost of a divorce in New Jersey depends on the parties.
Should you have any questions regarding this blog, please do not hesitate to contact my office.