Legal News
Financial Pressures Force Married Couples To Delay Divorce Proceedings (5 September 2011)
Date: 05/09/2011
Almost two-thirds of divorces in the South West are being delayed due to financial worries, according to a recent report. Accountants and business advisers Grant Thornton’s annual matrimonial suggests that money worries have resulted in 67 per cent of divorces being delayed in the region. The economic downturn has meant that an increasing number of couples in the South West are agreeing on a financial settlement as opposed to beginning divorce proceedings. However, research has revealed that the concealing of assets is less evident in the South West than elsewhere in the UK.
Many of the lawyers questioned during the survey believe that an increasing number of people will have measures to conceal their assets during divorce proceedings. Nationally, only 18 per cent of matrimonial lawyers claimed to have not dealt with any cases of concealment. This is in contrast to the 27 per cent of matrimonial lawyers who have experienced no cases of concealment in the South West. The South West is also associated with a higher proportion of cases involving mediation, with only seven per cent of matrimonial solicitors claiming to have not undertaken a single mediation case, compared with 23 per cent nationally.
Recent figures from the Office for National Statistics reveal that the divorce rate in 2009 is at its lowest level since 1977. According to industry experts, it is clear that financial pressures have an influence on the timings of divorces and the settlements awarded.
Duncan Lewis provides confidential advice with effective representation for all aspects of family law. Their family solicitors pride themselves on offering sensible ways in which to achieve the desired outcomes for their clients.