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The first thing that might come to your mind once you start thinking about a divorce is, How much will this cost? A study released by the legal publishing site Nolo estimates that the average cost of a divorce is $15, 500 and the average hourly rate for a divorce attorney is $250. The study also found that average time to finalize a divorce can take 10.7 months.
The following is a list compiled by 24/7 Wall St., a financial commentary site, that ranks the top ten most expensive states to get divorced in.
It comes as no surprise that California tops the list for the priciest place to split with your spouse. The average cost of a divorce in California with kids is $26,300. This number "drops" to $17, 500 if you don't have kids.
According to San Diego divorce lawyer, Tara Yelman, “The average cost of living in California is much higher than most parts of the country so this greatly contributes to the high cost of a divorce.” The divorce population in California stands at 9.3 percent.
A divorce in the Big Apple on average will set you back $17,100 and, if you have kids, expect that number to rise by $8,500. According to the analysis, the divorce population in New York is the lowest on the list at 8.7 percent.
On average, a divorce in Delaware with children will cost a total of $24,300. If you don’t have children the report estimates the cost will be around $16,200. The average divorce population is 10.9 percent. In Delaware, spouses must be legally separated for six months before they can legally be divorced.
A divorce in Massachusetts costs $23,900 with kids and $15,900 without kids. A report by the CDC shows that the divorce rate has declined in recent years. According to the study, the percentage of divorcees in the state of Massachusetts is at 9.5 percent.
Data released by the CDC shows that divorce rates nearly doubled between 2015 and 2016 in the state of Texas. A divorce in Texas on average costs $15,600. If you have children, the price jumps up to an average of $23,500 and the divorce population is about 10.6 percent.
Jersey has the lowest percentage of divorcees on the list but the price is still high if you want to get a divorce. According to the 24/7 Wall St. report, the average cost is only about $100 cheaper than in Texas if you have children. The cost for a divorce without children will set you back $15,600 on average.
While most of the country is seeing a decline in marriage rates, the state of Connecticut actually a five year high in 2016 according to a report by the CDC. The average cost of a divorce isn’t much different than New Jersey or Texas. If you have children it will cost around $23,400 and without children, the average is at $15,500. The divorce population in Connecticut averages around 10.9 percent.
A divorce in Georgia will cost you an average of $22,000 with children and $14,700 without. The population of divorcees in one of the highest on the list at 11.3 percent.
According to 24/7 Wall St., the average cost of a divorce with children in Virginia is around $21, 800 and $14,500 without children. The divorce population in Virginia is 10 percent.
Colorado may be last on this list, but it’s definitely not the least. A divorce in Colorado will still cost you a lot more than many other states around the country. The average cost of a divorce in Colorado is $21,800 with children and $14,500 without.
Today, just under 50 percent of marriages will end in divorce. This number has actually decreased in recent years and new studies show that millennials are taking a different route than their elders.
The price of a divorce could be a factor as to why divorce is on the decline. Depending on your assets, what state you're in and who you choose to hire as your divorce lawyer, the price can fluctuate. It’s important to note that children and cases that require a trial also add to the price of divorce costs.