Financial Struggles Force 1 in 6 UK Couples to Delay Divorce
Rising living costs and divorce expenses are causing many couples to postpone separation, with long-term financial risks for some individuals.
- Research shows 17% of divorces in the past five years were delayed due to financial concerns, including income instability and high divorce costs.
- Divorce Day, the first Monday after the holidays, traditionally sees a spike in inquiries, highlighting the financial and emotional strain of separation.
- Only 13% of divorcees considered pensions during asset division, compared to 50% who prioritized the family home, leaving some at risk of financial hardship in retirement.
- Over 10% of divorcees failed to update wills or remove ex-partners as beneficiaries on pensions and life insurance, risking unintended inheritance disputes.
- Experts recommend careful financial planning, including budgeting, asset review, and consulting advisors, to ensure equitable settlements and future stability.