There’s an old joke about the cost of divorce. Why does a divorce costs so much? Because it’s worth it. Divorce isn’t cheap in Michigan or anywhere else. Most people already know that. Between attorney’s fees, split assets, spousal support payments, child support and the often unavoidable guilt-spending that so many people fall prey to, it can cost a lot. But there’s “a lot,” and there’s “A LOT.”
Average figures get thrown around regularly, but one common figure is that attorney fees in a Michigan divorce can average $15,000. That number can soar much higher when attorneys get involved too late in the divorce and have to go backward to fix problems that could have been avoided if they had been done right in the first place. But if you thought your divorce cost too much, take a look at these figures! It may help to put things in perspective for you.
Steven Spielberg and Amy Irving
When director Spielberg and actress Irving divorced in 1989, just four years into their marriage, the settlement they agreed on was considered enormous and more than twenty years later it is still one of the largest divorce settlements in history, at $100 million.
Neil Diamond and Marcia Murphy
Married in 1969, they stayed together until 1994 when “irreconcilable variations” split them apart. Marcia’s settlement was listed as being $150 million. To his credit, Diamond did not begrudge her a penny of it and was heard saying that she deserved the money. He’s always been a class act.
Michael and Juanita Jordan
When Michael Jordan divorced his wife of 17 years, Juanita, the settlement agreement that their attorneys wrote granted her $168 million, which is no trifling sum. To date, it is still considered to be one of the most expensive divorces.
Mel and Robyn Gibson
When Mel Gibson and his wife Robyn parted ways, they had no prenuptial agreement in place to protect his wealth. As a result, Robyn took $250 million, which was half of Gibson’s substantial fortune at the time.
Arnold Schwarzenegger and Maria Shriver
After Schwarzenegger’s marital indiscretions became public knowledge, his wife Maria divorced him although the couple did try hard to salvage their marriage before finally calling it quits. The settlement was apparently amicable and Shriver walked away with a cool $300 million.
Craig and Wendy McCraw
When cell phone mogul Craig McCraw divorced his wife, Wendy, after more than 20 years of marriage, the settlement she received made their divorce one of the costliest in history. In total, she walked with $460 million.
Rupert and Anna Murdoch
Rupert Murdoch, founder, chairman and CEO of the world’s second-largest media conglomerate, News Corporation, divorced his wife Anna in what was considered to be an amicable split. Their divorce made headlines as history’s most costly parting of ways, with Anna’s settlement totaling 1.7 billion dollars.
As Mid-Michigan premier divorce attorneys, we understand that the cost of divorce can leave people apprehensive about hiring an attorney to represent them during their divorce. It is a well-known fact that the potential losses you could suffer as a result of not having proper legal representation can far outweigh the cost of good legal counsel. If you are considering a divorce, contact us and speak with one of our experienced family law attorneys. We can help you during this difficult time. Our team has helped hundreds of divorce clients over the past decades.