{"id":26369,"date":"2024-10-01T09:58:25","date_gmt":"2024-10-01T08:58:25","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/tomd\/?p=26369"},"modified":"2024-10-01T09:58:26","modified_gmt":"2024-10-01T08:58:26","slug":"financial-considerations-delaying-divorce","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/tomd\/2024\/10\/01\/financial-considerations-delaying-divorce\/","title":{"rendered":"Financial considerations delaying divorce\u00a0"},"content":{"rendered":"<div class=\"hd-block hd-block-paragraph\">\n<p><strong>New research<\/strong><strong><sup>1<\/sup><\/strong><strong> has found that one in ten married people in the UK have considered splitting up but decided against it, with the financial burden of divorce most commonly given as the main reason.<\/strong>&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>A challenging time<\/strong>&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>While respondents to the survey did cite other reasons for not divorcing a partner, for instance the effect it would have on their children, money was mentioned most often as the decisive factor. In essence, the research suggests that a significant proportion of people who are considering divorce decide they simply cannot afford to do so, instead preferring to stick with their partner and work on their relationship rather than having to face the financial consequences of splitting up.&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Costs of living alone<\/strong>&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>The decision to go it alone and commit to financial independence does certainly come with significant cost implications, with people living on their own having to shoulder the full burden of all household bills. This will inevitably have a big impact on retirement plans, with analysis<sup>2<\/sup> suggesting that, in order to fund a moderate standard of living in retirement, a single person would need around \u00a3275k more in their pension pot than a pensioner couple.&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Financial advice is key<\/strong>&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>It is therefore vital that any couples considering divorce take expert advice. While for many people this involves consulting a solicitor, potential divorcees also need to seek financial advice.&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>If you need any advice in this area, then please do not hesitate to get in touch \u2013 we\u2019re always here to offer our help and support.&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><sup>1<\/sup>Investec, 2024, <sup>2<\/sup>Standard Life, 2024&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated.<\/strong>&nbsp;<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>New research1 has found that one in ten married people in the UK have considered splitting up but decided against it, with the financial burden of divorce most commonly given as the main reason.&nbsp; A challenging time&nbsp; While respondents to the survey did cite other reasons for not divorcing a partner, for instance the effect [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":26370,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,89],"tags":[],"hd_content_source":[],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/26369"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/comments?post=26369"}],"version-history":[{"count":4,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/26369\/revisions"}],"predecessor-version":[{"id":26374,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/26369\/revisions\/26374"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media\/26370"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media?parent=26369"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/categories?post=26369"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/tags?post=26369"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/hd_content_source?post=26369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}