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    qwndino837
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    <p class=”mol-para-with-font”><span class=”mol-style-bold”>Today marks ‘Divorce Day’ which has long held its grim nickname as the day which brings a spike in divorce inquiries, usually because couples’ problems have been exacerbated during the festive season.</span></p><p class=”mol-para-with-font”><span class=”mol-style-bold”>This year family lawyers actually expect a lower number of enquiries as many couples have already decided to split due to the impact of the pandemic.

    Inquiries erection through pants 2020 were up 250 per cent compared with 2019.</span></p><p class=”mol-para-with-font”><span class=”mol-style-bold”>While couples of all ages have been affected by lockdowns, the over-60s are leading the divorce trend. Here, Legal & General Financial Advice chief executive Sara McLeish offers some tips around getting a fair settlement later on in life.  </span></p><div class=”artSplitter mol-img-group” style=”style”> <div class=”mol-img”> <div class=”image-wrap”> Today marks 'Divorce Day' which has long held its nickname as the day which brings a spike in divorce inquiries, usually because couples' problems have peaked during the festive season </div> <noscript> Today marks 'Divorce Day' which has long held its nickname as the day which brings a spike in divorce inquiries, usually because couples' problems have peaked during the festive season </noscript> </div> <p class=”imageCaption”>Today marks ‘Divorce Day’ which has long held its nickname as the day which brings a spike in divorce inquiries, usually because couples’ problems have peaked during the festive season</p></div><p class=”mol-para-with-font”>Splitting from a partner, at any stage in life, can be many things – sad, painful, liberating – but determining a fair financial outcome is almost always complicated. </p><p class=”mol-para-with-font”>Of course, no one enters a marriage thinking it will end, but it’s important to be prepared if it does.</p><p class=”mol-para-with-font”>Lockdown has created a strain on many relationships.

    Anxiety levels have been high as couples have been stuck at home together, without their usual distractions and support networks. </p><p class=”mol-para-with-font”>Having seen an initial rise in April, Citizens Advice say views of its divorce webpage were up 25 per cent on the first weekend in September, compared with the same date in 2019. </p><div><div data-track-module=”am-related_carousel^related_carousel” data-track-selector=”.rotator-panels a:not([class*=external])” data-dm-rotator-rotate=”false” data-track-pos=”static” data-dm-rotator-auto-init=”” id=”p-20″ class=”related-carousel with-fb-or-tw money” data-dm-rotator-active-class=”active” data-dm-rotator-page-count=”2.0″ data-dm-social-article-auto-init=”” data-dm-rotator-page-size=”1″> <div class=”rotator bdrcc”> <div class=”rotator-title”> <h2>RELATED ARTICLES</h2> <ul class=”rotator-pages link-xocc”> <li class=”rotator-prev”>Previous

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  • </div> <div class=”fb”> <h2>Share this article</h2> <div class=”big-share”><span class=”wai”>Share</span></div> </div> </div> </div><p class=”mol-para-with-font”>While this has impacted couples of all ages, divorces are rising most amongst the over 60s.

    For this age group, it’s especially important to understand how divorce can affect future finances and retirement plans. </p><p class=”mol-para-with-font”>The emotional stress of a divorce is hard to avoid, but the consequences of an unfair split can impact financial independence for years to come.  Our recent research found more than one-third of people over 50 see their incomes reduce after a divorce, with an average fall of £10,650. </p><p class=”mol-para-with-font”>Over a quarter of divorcees also save less for retirement following separation, impacting their ability to enjoy a comfortable retirement.</p><div class=”artSplitter mol-img-group” style=”style”> <div class=”mol-img”> <div class=”image-wrap”> Divorces are rising most amongst the over 60s. For this age group, it's especially important to understand how divorce can affect future finances and retirement plans </div> <noscript> Divorces are rising most amongst the over 60s. For this age group, it's especially important to understand how divorce can affect future finances and retirement plans </noscript> </div> <p class=”imageCaption”>Divorces are rising most amongst the over 60s.

    For this age group, it’s especially important to understand how divorce can affect future finances and retirement plans</p></div><p class=”mol-para-with-font”>When you enter a marriage, it pays to talk regularly about your finances and look ahead to tackle the potential ‘what ifs’.</p><p class=”mol-para-with-font”>In many relationships, one person handles the finances, but an unexpected event, like a divorce, confirms the shortcomings of this approach. </p><p class=”mol-para-with-font”>Talking about joint and family finances regularly means that you’re both aware of what’s going on. When going through a separation, it’s helpful to know the facts – what savings and debts you have – before negotiations begin.</p><p class=”mol-para-with-font”>Over a third of couples we surveyed thought the divorce process was financially unfair, yet only 3 per cent sought professional financial advice.

    Instead, couples were four times as likely to seek advice from friends. </p><div class=”moduleHalf”><div class=”money item html_snippet module”> <iframe website scrolling=”no” frameborder=”0″ width=”100%” height=”110″></iframe> </div> </div><p class=”mol-para-with-font”>Close friends and family can be a wonderful support network to lean on but remember that they are also likely to be emotionally involved.

    A good adviser has deep expertise and can approach the situation objectively, helping you to understand the best path to a fair separation.</p><p class=”mol-para-with-font”>The biggest question in a divorce is usually what to do with the family home. Not only is it the biggest asset most of us have, but it often comes with a lifetime of memories. There is an emotional and financial trade-off to think about. </p><p class=”mol-para-with-font”>While someone may wish to keep it, ongoing bills, the mortgage and maintenance costs need to be carefully considered.

    There is no point keeping the family home if you can’t afford to. </p><div class=”art-ins mol-factbox floatRHS travel” data-version=”2″ id=”mol-2dc14080-4e97-11eb-9ac4-eb77d23e9869″ website to ensure you get a fair divorce settlement later on in life

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