Research on the cost of relationship breakdown
Research on the cost of relationship breakdown shows that divorces can be expensive. If spouses or civil partners decide to separate and cannot agree on the basis for dividing their assets or how to present the court with evidence of the breakdown of their relationship, one or both can incur high legal fees in negotiating these issues. Aviva, one of the UK’s largest insurance suppliers has recently published the findings of their Family Finances Report. Within this report they reveal that UK couples spend an average of £14,561 on legal and lifestyle costs when they break up. This is an increase of 17% since 2014 when the total was only £12,432.
The report also had the following points of interest:
- Total cost of separation expenses reaches £1.7 billion, up £100 million from 2014
- One in six (16%) who separate also buy a new home, spending an average of £144,600
- Affordability issues mean 51% of those who separate turn to the rental market, at an average annual cost of £7,519
- Legal fees associated with divorce more than double, from £1,280 in 2014 to £2,679
- Money matters take an average of 14.5 months to settle after a split – three months longer than in 2014.
A divorce does not have to be as expensive a process as Aviva’s findings show. If both parties take independent legal advice from the outset on their options, this can help both parties to try and negotiate in the most cost effective and co-operative manner possible. At Barker Gotelee our expert family solicitors can provide this advice and in some cases fixed price fees can be offered on various pieces of work.
To book a confidential consultation please contact us.
Amanda Erskine is a solicitor in the Family department at Barker Gotelee Solicitors.