The cost of living is continually rising. It is therefore not surprising that it has been reported that the cost of divorcing has also risen due to increased legal fees, lifestyle costs and housing prices.
Many couples find that they cannot afford to physically separate for some time and so remain living together. I have found this to increasingly be the case where the main asset is the former family home and neither party can afford to move into alternative accommodation until equity has been released from that property.
If parties are to remain living together, I have found that this works best in cases where sensible and suitable interim arrangements regarding meeting household expenditure can be agreed. It also often provides an opportunity to review expenditure and see if any non-essential items can be reduced in the interim.
Legal fees in divorce can be limited where couples can work together to amicably resolve any disagreements. There are many ways in which this can be done including mediation and Collaborative Law.
There is no one single approach that is right for everyone and each situation is unique. It is important to have explored all the options and proceed in a way that best suits you.
For more information, please contact me:
t: 01722 446246
Due to these soaring costs, for a significant proportion of separated couples – 16 per cent – affordability remains such a concern that they remain living together in the same house because they can’t afford to move. This is especially prevalent among former couples in London, where two fifths (39 per cent) of divorcees carried on this arrangement for longer than three months due to high housing costs. Meanwhile, nearly one in three (31 per cent) of those who have split say they have dipped into their savings for financial support, while over a quarter (26 per cent) admit using credit cards for this reason. Close to a quarter (23 per cent) have also borrowed from friends and family to tide them over.