Help Through Divorce and Separation
The governments Money Advice Service has developed a new tool, helpful for pointing people in the right direction when looking after their finances during a divorce:
A report collated last year by the Office of National Statistics, revealed that up to 42% of marriages now end in divorce.
Although the rate has decreased it does not overshadow the fact that nearly half of the married population will separate, usually close to their 20th wedding anniversary.
It’s been suggested that money problems play a part in the high rate of divorce however many couples still attempt to pull together before separating due the complex processes involved in splitting financial assets. In the North East just over 9% of couples are now living separately and looking at divorce. Many aren’t aware of where to start when it comes to divorce proceedings – let alone the money worries what come with the process. With the average age of a person divorcing now at 44.5 years (male) and 42.1 years (female), there are often substantial financial assets to think about.
You can take a look at the tool by clicking here