Tim Harford passes along some interesting data on the economic impact of hiring a lawyer in connection with a divorce:
The Austrian economist Martin Halla has collected data from divorce proceedings in his home country, and he finds a curious pattern. Husbands end up paying the smallest alimony when no lawyers are involved. If the husband hires a lawyer, but his wife does not, the alimony payment rises (and then there are fees to be paid, too). If the wife hires a lawyer, or the couple hires a joint lawyer, the husband forks out still more. Worst case scenario for hubby is if both sides hire their own lawyer. On top of that the proceedings are longer and more expensive.
One of the funniest war stories about attorneys’ fees that I’ve ever heard involved a couple of old Houston litigators fighting over a divorce estate. Remind me to pass it along when we bump into each other.