A recent survey from Legal and General indicates that a growing number of couples across the UK are reporting financial pressures as the primary cause of delaying their intended marital separations. The data shows that one in six divorces in recent years were postponed due to money concerns caused by the cost of living crisis that has continued into 2025. Although January is often referred to by some as ‘divorce month’, the normal spike in divorce applications around this time of the year may not be as high as they once were given that many will be forced to stay in unhappy marriages due to being unable to independently support themselves financially.
The most common financial difficulties cited amongst the 17% of UK couples affected include:
- Income concerns: Post-divorce, each person’s income drops by an average of £9,000 annually in the first year and this has lead many to question whether they can actually afford to live alone after a potential separation.
- Rising living expenses: Inflation and the elevated costs of essentials have also made single-income households far more difficult to manage for the recent divorcee.
- Divorce costs: With legal fees for a divorce averaging thousands of pounds in total, up to 15% of divorcees are having to resort to getting themselves into debt to be able to afford separating from their spouse.
Prevailing negative perceptions of the divorce process may also partially be to blame for the dropping number of divorce applications as Legal and General’s survey finds that 40% of divorcees believe the entire procedure is financially unfair. The data collected on these individual’s lives post the termination of their marriages shows that 45% of divorcees see their income drop by a significant 30% per annum. Additionally, an increase in expenses from things like time off work (18%), separation costs (23%), and living costs (29%) further compounds the financial strain, likely adding to their overall disgruntlement[AH1] . However, despite frustrations with the financial implications of divorce, only 7% of divorcees have been found to have sought financial advice before or during their separation.
Beyond these immediate concerns, many individuals are also failing to address longer-term financial matters when getting divorced. For example, only 13% of divorcees consider pensions when dividing their assets, despite the potential impact on their retirement plans. To add insult to injury, a worrying 23% of individuals will also waive their rights to pension claims altogether which leaves them in a financially vulnerable position later on in life. Clean break orders also appear to be lacking among divorced individuals with 69% not having one in place. The lack of this legal protection exposes them to future financial claims from their ex-spouses which, alongside other recorded omissions in the necessary admin during and post divorce (nearly 900,000 divorcees in the UK have not updated their wills to exclude their exes), only increases the potential negative impact on their livelihoods.
At Grayfords, we understand the importance of getting the legal and administrative minutiae of divorce right so that we can enable you to have the best possible fresh start after a separation. Our expert family law solicitors are highly skilled and experienced in dealing with the multitude of complications that can arise when couples with children and various shared assets, even in other countries, choose to go their separate ways. We will guide you through the divorce process from start to finish, advising you on everything that you should consider both practically and financially, while also providing an empathetic approach and personal support alongside the therapists and divorce coaches that we can refer you to. Call us today on 020 7100 6100 and book your free initial consultation to find out more about what we can do for you.
