Going through a divorce or separation
Simple guidance to ensure that your finances survive a break-up
Money pressures are one of the main contributors to the break-up of a relationship.
And the cost of going through a divorce, in terms of legal fees and dividing up who
gets what can increase that pressure. Its not just marriage breakdowns that can add
up to a costly figure. More and more people build lives together and have shared
assets without the legal status of a marriage. Whichever applies to you, its important
to know your rights and get help to minimise the cost and stress. We've put together
a few tips to help you.
Before you separate
If its possible to remain on friendly terms, sit down together and work out what you own,
including pensions and other investments. The more you can agree on together, the less time
you'll spend with solicitors. But if you're ending a marriage, you will need to find a solicitor.
Perhaps a friend may be able to recommend one?
Get advice
There are lots of places you can find free advice, or even books that will guide you through
the process. We've highlighted a few in the links section below.
Think about mediation if you can't agree
If the relationship has broken down to the point where you're unable to remain civil, or
you simply reach a stalemate, you could consider mediation. Its more informal, and cheaper
than a solicitor and a lengthy court case. Its also a less intimidating experience than
going to court to reach a settlement. But it should be used in conjunction with a solicitor
who will need to draw up the legal papers for a court to approve in order to grant a divorce.