We are aware that concerns about the potential costs of legal fees can prevent people from obtaining the early professional advice they need.
Paradoxically, early advice encourages you to engage with the process, enabling you to make informed decisions which can shorten your case and make it easier to obtain a settlement.
Financing a divorce can be expensive.
We, therefore, like to be as clear as we can about potential costs and fees right from the outset.
Help With Funding A Divorce
Should you seek to instruct us, we will provide you with a bespoke cost estimate based on the facts of your case and your individual requirements.
We are happy to discuss flexible pricing arrangements, including, where appropriate, a fixed fee package or pay-as-you-go service.
Clients are often concerned about divorce financing, particularly with how they can pay legal fees during their divorce.
There are a variety of approaches which may be taken.
Financing A Divorce
Over the years, we have been able to advise our clients about potential ways to fund their divorce.
Here are a few that might help.
Your own resources
You may have your own income or savings to pay your legal fees as and when they are billed.
Family members or friends
If a member of your family or a friend agrees to cover the legal fees, you will need to consider what information, if any, should be shared with them so that they can make informed decisions about the support they will offer. If the money is being loaned to you rather than given, it is crucial that you properly document these arrangements to increase the chances of the loan being recognised in a financial court case as a debt you have to repay. The obligation to repay must be recorded in the documentation to persuade the court that it is a genuine loan.
There are numerous commercial funding options available. As solicitors, we are not permitted to give financial advice. You may wish to consider taking advice from an IFA or financial planner on your funding options.
We have a good relationship with many finance houses specialising in providing loans to fund litigation or family law cases. They can provide you with the funds to fight your case by way of a loan you pay back out of your final settlement. Such loans do not necessarily require security from you.
Your ex-partner pays voluntarily
If you don't have the money to cover your legal fees, but your former partner does, they might agree to pay your legal fees for you. This is particularly appealing when you might otherwise need to take out an expensive commercial loan to fund your fees, which would result in reducing the resources available for division. This agreement is unlikely to be open-ended, and it is sensible to have a backup arrangement in place if your ex-partner decides to stop paying your bills at a crucial stage.
Interim financial provision
If your ex-partner does not volunteer to cover your legal fees, with the result that you might not be able to pursue your case, the court can order your ex-partner to meet your costs. This would require a separate application to the court and a hearing to decide the issue.
Funding Your Divorce With Monan Gozzett
We often get asked how much a divorce will cost.
Even with our no-fault divorce fixed costs, there can still be many unknown variables with child arrangements and how the family finances will be divided.
If you are concerned about how to fund your divorce, speak to our team today.
We can explore these options with you in more detail at your first appointment.
Please contact one of our divorce and separation representatives to assess whether we can assist you and book your initial appointment.
Call us today on 0207 936 6329 or complete our contact form below, and we will call you back.