However, a recent report in the Telegraph suggests that for some couples, much of the stress caused by financial worries may be coming from the wedding itself. Michael Chapman from JMW Solicitors has said that a number of the divorce cases his firm deals with each year centre on who should repay loans for wedding expenses including ceremony and honeymoon costs.
He also mentioned cases where couples are arguing over debts accrued with setting up home together for the first time, explaining:
“The issue of debt is, sadly, a recurrent part of discussions when it comes to dividing assets and providing the means for both spouses to move on after a divorce. Although the topic is particularly acute for younger couples who might not yet have had the opportunity to build up property, pensions or cash reserves, it is not exclusive to that age group. There is still a considerable number of middle-age couples choosing to go their separate ways with the question of who should honour hire purchase or loan agreements still unresolved.
“Disputes about household furniture and electrical items, cars, caravans and property are far from uncommon.”
How much does the average UK wedding cost?
According to figures totted up by wedding planning site Bridebook, which looked at over 20,000 ceremonies taking place over the last year, the average cost of a UK wedding is now £27,000. This average cost reaches an eye-watering £38,000 for London couples. Added to this cost is the honeymoon, which cost on average £3,704 per couple in 2016.
While people are prepared to spend a lot to get every detail of their dream day absolutely perfect, most would agree that it is absurd to put yourself and your partner in years of crippling debt just for what amounts to two weeks of your life (including the honeymoon) at most. The former Archbishop of Canterbury Rowan Williams also had some wise words for soon-to-be-wed couples recently, warning of the dangers of becoming too wrapped up in the dream of:
“…the perfect relationship crystalised in the perfect wedding day - the immense economic, advertising investment in this massively fantastical experience which you go through on your wedding day, after which, of course, nothing is ever quite so good again.”
Sorting out debts and assets during divorce
If you’re already at the stage where you’re separating and have lots of complicated financial arrangements to sort out – including debts and repayments – you need an expert on your team. Wirral family law solicitors Tracey Miller Family Law can guide you through the process smoothly, negotiate on your behalf and help you to get what you’re entitled to.