How Much Does A Good Divorce Attorney Cost?
Divorce Lawyer Costs
If you've decided to file for divorce, one important question to ask yourself is "How much does a divorce attorney cost?" This will give you a good idea of whether or not you have the funds available to hire a divorce attorney. Many clients begin the process with the idea of hiring an attorney, but then find they don't have the money to pay for the services provided. But, there are ways to get divorces handled without breaking the bank.
How much does a Colorado divorce attorney cost? On average, hiring a divorce attorney costs about $250 per hour. However, some legal clients can pay up to $ 175 an hour and still others may pay up to $ 300 an hour for professional legal services. Divorce lawyers range in price, from hourly rates to fixed charges or a percentage of the final settlement. Divorce attorneys who charge more than hourly rates or fixed fees are called "contested divorce lawyers" and those who work on a contingency fee basis (where they receive no fees for their services) are called "consolidated divorce lawyers."
Most attorneys start out by accepting a retainer, which is money that the lawyer receives from the party paying for their services. After paying off expenses such as mortgages, rent, telephone or electric bills and other expenses for being a divorce attorney, the attorney obtains their regular fee, which is their part of the final compensation. The typical hourly rates are around thirty dollars per hour, although this varies by state and court. The same is true of most contingency fee agreements. The more experience an attorney has, the more likely he or she will be paid an hourly rate in the six figure range.
Divorce lawyers in Colorado also have the option of working on a "contingency" basis, which means that the fee the attorney receives will take into consideration any other monies paid out by the filing parties. If the parties' estates are similar, the percentage of the attorney receives will be greater. In the case of a co-habitating marriage, the percentage of the attorney gets will be less. Also, if the parties have different assets, the percentage of the attorney gets will be different depending on the type of assets (like whether it's a car or jewelry). Even if there are no similar assets, each of the divorcing spouses has their own separate property.
Alimony is also an issue in the division of assets. There are two types of alimony: spousal support and child support. Alimony usually terminates upon remarriage. However, certain states, like Colorado, allow the former spouse to collect alimony payments even after the latter spouse has moved out. This is referred to as "permanent alimony." Permanent alimony is awarded at the discretion of the judge based on a number of factors, including age and ability to earn.
Child support requires that a noncustodial parent to pay a certain amount to the custodial parent, or pay a specified sum for the children. The Colorado child support system uses a complex formula to calculate child support payments. These factors include the earning capacity of each parent, the income of each parent, and the needs of each child. Once these factors are determined, the child support payment is made to the non-custodial parent. In some cases, child support can be significantly lower for the non-custodial parent if the custodial parent is unable to make payments.
An issue that always arises in divorce and child custody cases is how much support the divorced couple is expected to pay. Often, the calculation of support requires an accountant to determine the percentage of income that goes to each party and then multiply this by the number of children. The resulting figure, the percentage of support, is the amount that the divorced party is ordered to pay. Alimony is different, in that alimony payments are decided based on each spouse's earning potential.
If the question "How much does a Colorado divorce lawyer cost?" is important to you, the best advice is to consult with a local Colorado Springs divorce lawyer. A divorce lawyer can evaluate your particular case and recommend options that will help you receive just compensation. Your lawyer will also be able to inform you of other costs, such as filing fees and attorney retainer fees.