The start of a new year frequently coincides with parties initiating court proceedings for matters concerning divorce, finances and disputes regarding children. The media widely reports of “Divorce Day“, although such focus is a fallacy – the reality is that no client times divorce proceedings to coincide with an artificial construct such as this. Family law matters are rarely treated with a cavalier approach and parties have ordinarily pondered and deliberated on their options, meaning decisions are never made lightly. Relate, the relationship charity, revealed it receives a peak in calls in January, as issues within a marriage or a long-term relationship come to a head over Christmas.
Inevitably, the financial implications and potential cost of divorce are a worry for those concerned. Insurance and investment giants, Aviva, have reported on the rising cost of divorce proceedings, formed largely by the cost of redecorating homes, as well as moving house and legal fees being central to this rise. The cost of divorce has soared by 17 per cent in just three years, with divorcing and separating couples now typically spending £14,561 on legal and lifestyle costs, according to Aviva.
In addition, couples who move house following separation spend tens of thousands of pounds in doing so. Those who rent, which applies to more than half of divorcees, spend around £35,000, while those who go onto buy a new property (16 per cent) spend £144,600 on average.
Aviva’s findings indicated that more than two-thirds of couples (68%) who divorce or separate have financial issues to resolve, with the process taking on average 14 and a half months – this figure being three months longer than a comparable study in 2014. T report rightly urges couples to ensure they have an equal understanding of household finances to prevent long-term financial plans from going off-course in the event of a relationship breakdown.
If you would like to discuss issues relating to the breakdown of your relationship or have concerns about the cost of divorce proceedings, contact one of our expert solicitors today on 01234 88977 or 0207 177 9777 for a free consultation. Serving Bedford and London, our lawyers can help you with all your family law matters.