The beginning of January is often referred to as boom time for
family Solicitors with the first working day back in the office
also aptly named ‘divorce day'. The end of the holiday
period and the beginning of a new year is often the drive for
couples to begin the process of separating and sorting their
financial affairs. However, recent media reports that the current
cost of living crisis and associated financial pressures have meant
that more than 270,000 couples have delayed separating.
The decline in the economy following the pandemic in 2020 has
had an impact across all sectors of the economy and has had a
filtered knock-on effect on the purse strings in every household.
As a result, it appears that couples may have contemplated delaying
their separation and staying together over fear of the financial
repercussions that may follow. Researchers at Legal & General
found that financial pressures have delayed 19% of divorces.
