The last time Aviva’s Family Finances Report was conducted, back in 2014, it was found that the average divorce took 11 and a half months. This means that in the space of just a few years, many people are finding that divorces are taking around 3 additional months to come through – which is 3 more months before separated couples can move on with their lives.
Shared finances can add to divorce complications
The report found that disputes and negotiations relating to money are one of the main causes of delays and complications during divorce. Researchers found that many people who had separate finances found the divorce process to be what they expected or better, while the 19% of people who found it worse than expected had joint finances which needed to be untangled.
Aviva UK’s Health and Protection Director said in the report:
“It is alarming that many couples do not have joint understanding and responsibility over their finances before they split. Having no knowledge of household finances can not only make the immediate separation process more difficult, but can also lead to issues further down the line for the partner with less knowledge.”
Other survey findings revealed that:
- Separating couples are spending 17% more on divorce, with the average figure rising from £14,561 from £12,432 in 2014
- In total across the UK, divorce costs £1.7 billion – an increase of £100 million compared to 2014
- Legal fees have doubled, rising from £1,280 in 2014 to £2,679 in 2017.
How can couples speed up the divorce process?
One of the best ways for couples to reduce both the time and expense of divorce is to plan for it. This will never be the most romantic or pleasant of conversations, but it is necessary to consider what will happen in a worst-case scenario and the relationship breaks down. A frank discussion to decide how finances will be split, childcare and custody arranged and property managed in the event of a separation can make everything a lot easier later on. You may never need to use the plan, and one or both of you may change your mind later on, but it helps to have it in place.
Couples can also save on legal costs and reduce the length of the divorce process by avoiding court. Divorce is generally only expensive and drawn-out when couples disagree and neither party is willing to back down or compromise. Using mediation and negotiation, it is possible to reach an amicable agreement that can lead to decisions being finalised much more quickly.
For expert advice on saving time and money on your divorce, get in touch with Liverpool divorce lawyer Tracey Miller Family Law.