What is the cost of divorce?
The thought of divorce can often lead to nightmare ideas about bankruptcy or a burden of debt. As we go through life, we will do calculations and financial projections to budget for personal things like holidays or a deposit for a new home but a divorce financial plan is least priority. However, if divorce is on the cards for you then a review of your finances is required and it may be necessary to set up a divorce payment plan.
The media often portrays divorce to be expensive with high profile celebrities battling it out in court to determine how many millions they are each entitled to. In social circles, we are also likely to have met someone or heard from a friend of a friend about someone who lost everything due to divorce. This negative aspect is enough to put people off their idea altogether and some will opt to stay in an unhappy marriage, believing that they would be worse off otherwise.
The divorce process can be as simple as you want it to be. In agreement with your ex, you can decide to split things fairly, 50-50. For all the expensive divorce battles you hear about, there are twice as many or more that occur without any particular dispute. A straightforward approach to ending your marriage without the hassle of wasting time with two solicitors and more importantly wasting your money.