Many clients who meet with us ask what is a flat fee divorce? They also ask what makes a flat fee a good option? Quite simply, a flat fee is a set fee determined at the beginning of the divorce process. No hourly fee exists. A preset amount covers the legal work, and typically, there is only one attorney. When you and your spouse agree on the terms of the decree, a flat fee may be right for you. Often, those seeking a flat fee divorce educate themselves a lot. When there are children and you agree on where the children will usually reside and you agree on a parenting plan, a flat fee can be the answer. Parenting plans consist of the amount of child support, who pays child support, when will each parent have the children with them, and who provides health insurance. Also, there needs to be an agreement relating to who makes important decisions about the children’s health, education, and well-being. For instance, do you plan to decide on most issues together, or will one parent alone make most decisions.
Next, property agreements must exist as well. To be an uncontested divorce with a set fee, you and your spouse must previously reach an understanding regarding the finances and division of assets. That means that you successfully tackled who will get which bank account, the funds in bank accounts, other assets, retirement funds, the marital residence, and vehicles. Who pays off the existing marital debts requires agreement too.
At C.E. Schmidt & Associates, PLLC we assist many divorcing families by providing a flat fee option. We are happy to provide you a free consultation to discuss whether a flat fee is right for your situation. Call (281) 550-6650 to schedule your consultation today.