The average couple spends a whopping £44,000 on their separation, but many could spend more if they’re not aware of how to mitigate costs.
New analysis of the true cost of divorce has found that on top of essential costs, such as legal fees and housing, separating couples regularly spend up to £13,000 on the hidden extras they feel they need to launch their new single lives.
That means Brits are collectively spending tens of millions of pounds a year on the less obvious costs associated with separation.
With divorce already causing a great deal of stress one of the areas people often want to feel in control of is their finances, which is why Katy Zikking, a specialist family solicitor at Harbour Family Law Solicitors, has revealed seven ways to save money on your divorce.
Take a look here:
- Once you are sure the marriage is over, do not delay in dealing with the difficult issues.
If you leave sorting out your divorce until years after your separation, it is always more difficult to unpick the historical finances and other issues and therefore it is more expensive.
- Try mediation or Collaboration
Talking with your spouse directly rather than through solicitors is going to be more time-efficient and therefore cheaper than either dealing with matters through solicitors correspondence or through the court.
- Try to agree to share costs
If you are able, agree with your spouse to share the costs of the process from the beginning. This will limit either of you from ‘over-spending’ as ultimately, you will both be paying.
- Be prepared to compromise
Points of principle are wonderful, but it is worth reconsidering whether winning a point of principle is going to be worth the money. Usually, they are not!
- Be selective
Carefully consider which issues you require legal advice upon. It may be that some issues can be resolved between you both, whilst others require specialist help. Spend your money on the most difficult areas.
- Prepare to filter!
During divorce, lots of friends and family will be on hand to offer their advice. Although well-meaning, be prepared to filter their advice quite thoroughly. Discuss with your solicitor before deciding whether to take their advice on board. No two divorces are the same, so “what Mr and Mrs Smith ended up agreeing” will undoubtedly not be suitable for you. Friends and family are likely to be emotionally involved, which may effect their advice.
- Book a course of Counselling
It may sound counter-intuitive, but making sure you have some emotional support through what is a very stressful time is very important and will ensure, in the long-term, that the decisions you take through the process are sound. It may save you money, but more importantly it may help you to manage your emotional health.
Katy Zikking is a specialist family solicitor at Harbour Family Law Solicitors in Bristol with over 16 years experience of helping clients divorce. You can contact her by e-mail at:[email protected] or by calling 01179 055141 or 01275 390458. Katy is a trained Collaborative solicitor. www.harbourfamilylaw.co.uk/methods.