Getting divorced is never the nicest process and the thought of paying legal fees may be putting you off using a lawyer for this process. But the consequences of completing the divorce process yourself can be dire.
The number of people choosing to submit their own legal paperwork for a divorce has risen in recent years, with it being viewed as the cheaper and quicker option.
Whilst this DIY route may seem cheaper now, it is likely to cost you in the long run if you neglect to cover important factors in your financial agreement.
In fact, the number of applications for pension sharing orders is declining despite divorces being on the rise, reveals data from the Ministry of Justice.
This can have a concerning impact on divorced women, with research from the University of Manchester Institute for Collaborative Research on Ageing stating that divorced women have five times less in pension savings than men in the same age group.
How can you ensure a fair split?
With emotions running high and without a lawyer to facilitate communication, you may find it hard to cover all the aspects you wish to include in your financial agreement.
There is also the risk that you are unaware of everything that should be covered, such as pension sharing orders.
Whilst these issues are unlikely to become apparent immediately, having a thorough settlement is essential to ensure your future financial security.
For this reason, whilst incurring more costs, having an expert on hand can reassure you that both you and your ex-partner can come to an agreement that serves both of you.
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