I spent $40,000 in legal fees for my divorce, but that seems like a bargain compared to what Britney Spears will have to shell out in attorney fees. It is estimated her legal bill will be close to $700,000 for her divorce and custody fight with ex-husband Kevin Federline.
The majority of that bill comes from her former lawyer, Stacy D. Phillips, who claimed in court filings that she is owed nearly $407,000 for four months of work. She also claims she has written off an additional $125,000 in fees.
A half a million dollars in four months? It is hard to believe a lawyer can justified charging a client that much money for such a short time period. Kevin Federline's lawyers charged $250,000 for representation but worked well over a year on the case. Laura Wasser, the attorney who helped the couple finally reach a settlement, charge $60,000 for 2 months of work.
The moral of the story here for us normal, non-celebrities, is that divorce lawyers sometimes do jack up fees and prolong cases when a couple has assets and money. I am sure Ms. Phillips wouldn't have billed a "normal" client a half a million dollars for the same amount of work as she billed Ms.Spears.
The other lesson to take from this seemingly unimportant story about Britney Spears is something I have said over and over again. The biggest winners in your divorce will be not be you or ex. It will be the lawyers if you choose to litigate your divorce in family court. It is is possible to reach a divorce settlement without fighting, animosity and outrageous legal fees. That of course requires that both you and your ex cooperate and consider the use a mediator. If this is not a possibility, protect yourself from soaring legal fees by keeping close tabs on what your attorney is charging you and encourage he or she to try and reach a settlement with your ex's attorney as soon as possible instead of duking it out in court.
Find out the three things you must know before getting a divorce....