How is the cost of living crisis impacting your marriage?

As rising prices hit pockets all across the country, you may be seeing the impact of these financial pressures on your marriage.

In fact, there has been a significant increase in divorce enquiries amidst the ongoing inflationary pressures.

According to data from Stowe Family Law, divorce enquiries hit a record high last month of 4,129.

What steps should be taken before opting for divorce?

Sometimes the decision to get divorced is the best option for you and your spouse, but it is not a decision to be taken lightly.

So, before making your final decision, you should have an honest and open conversation with your partner about the concerns that you have.

It is vital to have a good understanding of the problems that you have and why these are occurring if you wish to resolve these.

If financial worries are having an impact on your relationship, divorce may not necessarily resolve the circumstances that you are in, which should be taken into consideration.

How can you protect your finances in a divorce?

In the case that you decide a divorce is the best option, you will need to come to a financial settlement with your spouse.

Agreeing on how to divide your assets and finances can quickly become a headache for divorcing couples as tension increases.

Therefore, you may need to bring a lawyer onboard to facilitate these conversations and help you to negotiate how your assets should be divided.

In the circumstance that you cannot come to an agreement, you may need to attend mediation sessions or, as the last case scenario, a judge can decide how your finances should be divided.

Need advice on related family law matters? Contact us.

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