With more South African women opting to start divorce proceedings, focus has increasingly shifted to cost of divorce – both emotionally and financially, says Lee Hancox, head of channel and segment marketing at Sanlam.<\/p>\n
“Sometimes there\u2019s the temptation to rush into a \u2018quickie\u2019 DIY divorce that seems cheaper and faster \u2013 perhaps you want to get out of the emotionally stressful scenario as fast as possible,” she said.<\/p>\n
“This can be risky. Particularly if you\u2019re not a legal expert, what you may be putting into your divorce agreement could be called into question when you get into a divorce court, or, worst-case scenario, could be to your detriment in the long run. ”<\/p>\n
Hancox said that there’s\u00a0also the risk of one partner being savvier than the other. So, the divorce agreement could be drafted to the benefit of one and the detriment of the other.<\/p>\n
You may not realise this until it\u2019s too late, with ramifications that could end up costing you far more than if you\u2019d had an attorney and financial planner involved from the start, she said.<\/p>\n
Cost of divorce<\/strong><\/p>\n Hancox cost of a divorce varies depending on the circumstances and service providers.<\/p>\n She noted that an uncontested divorce (one in which both parties work together to amicably agree on the divorce terms) can cost anything from R7,000 to R10,000.<\/p>\n However, if the divorce is contested and the spouses cannot agree this goes up exponentially, she said.<\/p>\n “An attorney\u2019s fees start at around R2,000 an hour, an advocate can cost even more, and court hearings also add up depending on how long a case takes to settle.<\/p>\n “Another option is mediation, where an objective third-party individual works with the spouses to temporarily set aside differences to come to a settlement agreement. Mediated and contested divorces can take years to resolve.<\/p>\n “An uncontested divorce can be done in a matter of weeks. This is obviously directly proportional to the expense. How you were married \u2013 in community of property (everything is split 50\/50) or out of community of property with an antenuptial contract \u2013 plays a big role in determining how simple divorce proceedings may, or may not be.”<\/p>\n Other expenses resulting from a divorce<\/strong><\/p>\n Aside from the direct costs involved in the divorce proceeding itself, Hancox said there are many other \u2018less obvious\u2019 expenses. These include:<\/p>\n\n
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