Divorce is a significant decision that can have a major emotional impact on individuals. This is especially true for married couples, whether they have been together for a short period or many years.
There are various factors to consider when contemplating divorce, such as how to communicate the decision to your partner, how to handle issues related to children, and concerns about financial stability in the future.
Is it better to stay in an unhappy marriage for financial security?
While financial concerns can sometimes lead to relationship breakdowns, they can also be a reason why individuals choose to stay in an unhappy marriage. However, prioritizing financial security over emotional well-being may not ultimately save a failing marriage.
It is common to feel anxious about life after divorce, particularly regarding affordability of essentials like housing, childcare, food, and bills.
Addressing short-term financial worries
Concerns about finances during and after divorce, especially for the financially dependent party, can be daunting. Short-term expenses like court and legal fees can add to the stress of the situation.
While engaging in non-adversarial processes like mediation can help reduce legal fees and emotional strain, seeking legal advice is crucial, especially regarding financial matters.
For individuals struggling with short-term funds, options like legal aid or interim financial consent orders can provide temporary relief and support during the divorce process.
Please note that Stowe Family Law does not offer legal aid.
Overcoming financial anxieties
Financial settlements in divorce typically start from a 50/50 split, but courts consider various factors when determining final outcomes, including housing, children, pensions, and future income potential.
Legal advice can provide clarity on entitlements like spousal maintenance or lump sum payments to ease worries about financial stability post-divorce.
While concerns about affording luxuries post-divorce are valid, creating a positive environment for children and focusing on free activities can have lasting benefits beyond material possessions.
Seeking support from organizations and individuals can help alleviate financial anxieties during the divorce process and beyond.
Useful Links
Stay at home mum’s rights in divorce
Can I get divorced if I’m in debt?
When ‘I do’ becomes ‘I don’t’
What to do if you think your marriage is over
Is your relationship worth saving? Watch on YouTube
Making your money go further post-divorce – Watch on YouTube
Stowe Support Finances