How much does a divorce cost?

Recent statistics suggest that around 42% of marriages end in divorce, a figure which has remained largely stable over the past 10 years. One major consideration for couples considering a split is the financial impact. With a punishing cost of living crisis, many are now continuing to live together even though the marriage is over as they cannot afford to split up.

So, how much does a divorce cost? According to an Aviva study in 2018, the average cost of legal fees is £14,300. However, it’s not just about money. Given the backlog of cases waiting to be heard in the family courts, the Ministry of Justice claim it will now take at least a year for a divorce to complete.

To assess the likely cost of divorcing, it is important to understand that there are three main elements to consider. Legally getting a divorce simply ends the marriage leaving you both free to remarry and get on with your lives. Yet, it does not resolve issues around contact with any children you share, and it does not end any financial ties between you. The latter requires a court order.

The Divorce

With the introduction of No Fault divorce a couple can now split up without the need to apportion blame. This has simplified the process of getting an online DIY divorce which involves an application fee of £593. More information can be found here https://www.gov.uk/divorce/file-for-divorce

Childcare Arrangements

In terms of childcare arrangements, it is rarely necessary to seek a court order which would make the terms you have agreed legally binding. Most couples can reach a sensible agreement on contact time and parental responsibilities between them.

If this is not the case, do seek the advice of a specialist family lawyer who can advise you on moving forward and whether making the arrangements into a court order would be necessary.

Financial Settlements

The main expense when divorcing comes when agreeing a financial settlement, when property, savings, pensions, investments, and any debts are split between you. While you may be able to agree this with each other, it is important to ensure what you have agreed is fair and just. For example, have you considered the value of future pensions which can have a significant impact on quality of life in later years.

This is why we strongly recommend getting the advice of a specialist family lawyer before making any decisions, so you can make informed choices and agreements.

To protect you both, the financial settlement must be made into a court order for it to be legally binding. Without this, you are both still married financially and an ex whose business has gone under can still make claims on your assets many years later. Equally, if one of you wins the lottery, without a financial court order, an ex-partner could make a claim on your newly acquired assets.

Cost effective ways to reach an agreement

We offer a range of services to help couples keep costs to a minimum when divorcing. To get an overview of your specific situation, we offer a no obligation initial consultation for up to 60-minutes for a fixed fee of £100 (incl. VAT). At this meeting, we can advise you on all the issues relating to your personal circumstances and signpost possible ways forward.

For couples unable to reach an agreement on childcare and finances, we offer several resolution processes. These include family mediation, collaborative law, and arbitration. All these approaches are designed for you to reach an agreement without the expense, stress and lengthy delays of going to court.

If you would like to take advantage of our fixed fee initial consultation offer, please call 01444 472700, email us at [email protected] or complete the form below.