The cost-of-living crisis is something that concerns us all. The additional worry of household finances and having to restrict outgoings is likely to be a source of discussion and even arguments between couples. Is the cost-of-living crisis likely to impact upon couples wanting to divorce?
The cost-of-living crisis is something that concerns us all. The additional worry of household finances and having to restrict outgoings is likely to be a source of discussion and even arguments between couples. Is the cost-of-living crisis likely to impact upon couples wanting to divorce?
The fact is that clients have many reasons why they want to separate rather that it being just one issue. The factors that lead to divorce can include no longer sharing the same goals, drifting apart, abuse, alcohol dependency or just no longer feeling part of a happy union. Money issues are raised if one spouse feels that the other has been spending joint monies on their own needs such as alcohol or socialising or racking up credit card debts when money is tight within the family.
There is no right time for a divorce and so deciding on whether to divorce will be personal to you and the costs of living is likely to be taken into account when looking at your future housing needs and affordability on a mortgage in your sole name and your ability to meet the ever increasing utility bills. Some clients do seek advice and then wait as they are waiting for the right time but often that doesn’t materialise and the decision to divorce is made because one just cannot cope with staying in the marriage any longer.
The introduction of the no fault divorce in April 2022 has led to an increase in the number of divorces but this is likely to be because this has been a monumental change to divorce law in that there is no longer the need to attribute blame and so couples have perhaps felt this more amicable approach is now an easier less hostile process.
The cost-of-living crisis is therefore an additional worry to separating clients but its not necessarily going to be the reason for the separation. When money is tight it is even more important to consider the costs of a divorce and more importantly the costs to reach an agreement on financial matters. These costs can be kept to a minimum if both parties have realistic expectations of the outcome and are focussed on reaching an agreement i.e. willing to negotiate rather than just wanting to prolong the dispute.
Mediation is one option for clients to consider to reach an agreement with a qualified impartial mediator who helps you reach an agreement that works for you and your family. There can be negotiations between solicitors to compromise an agreement without the need to attend court which can be a costly process.
We are here to help and offer initial meetings to set out the options available to you. We also recommend mediation with Sea Change Mediation or you can speak to our experienced family solicitors to help you reach the outcome that is best for you.
Please contact us at the emails below:
Birmingham office - paulineorourke@newleafsolicitors.co.uk
Rugby office - francinebristo@newleafsolicitors.co.uk
Daventry office – amytrevellick@newleafsolicitors.co.uk
Southampton office - kellybruton@newleafsolicitors.co.uk
