Current cost of living crisis causing a surge in divorce rates
The cost-of-living crisis is a term used to describe the increasing expenses that individuals and families face on a daily basis. This can include everything from housing and healthcare to food and transportation. With the cost of living on the rise, many families are struggling to make ends meet, and this, in turn maybe one of the factors leading to a surge in divorce rates.
Following a recent survey published by Relate, 19% of the participants had considered proceeding with getting a divorce in 2023.
Divorce is a difficult and emotionally taxing process for everyone involved. It can be especially challenging when financial issues are a major contributing factor. The cost-of-living crisis is making it more difficult for couples to maintain their standard of living, and this can cause an increased stress and strain on relationships. As a result, more and more couples are choosing to divorce.
When it comes to divorce, there are normally many more issues to consider. Property division and child support are just a few of the expenses that must be accounted for. In addition, many people who divorce can also experience a decrease in their standard of living, as they may have to downsize their home or give up certain luxuries. This can be especially difficult for those who are already struggling financially.
However, it is important to remember that there are options for those who are facing financial difficulties. Using the collaborative divorce process as an alternative to traditional divorce can help to minimise the cost and stress of the process. This allows couples to work out the details of their divorce by way of meetings, rather than going to court.
If you are considering separation or divorce from your partner, our highly accredited team of divorce solicitors at Wolferstans are here to help you. We can advise you on the associated issues that you should be considering. Read what one of our clients had to say:
“Having separated from my partner many years ago I'd put off divorce proceedings for many years. Catherine at Wolferstans ensured everything went through smoothly and timely and kept me fully informed throughout what could have been an even more stressful time. Thank you!”
It may be tempting to deal with the divorce yourself. However, we encourage you to take legal advice to ensure you have dealt with the financial issues. If you are in a position where you have property, pensions, or capital assets, it is vital that you take legal advice before taking any steps to divorce from your partner.