In the quest for a quick and cheap divorce, many couples in England and Wales are inadvertently risking their financial security. A concerning trend has emerged: women are disproportionately bearing the brunt of financial losses due to the avoidance of professional divorce advice.
Women at Financial Risk in Do-It-Yourself Divorce Trend
Recent research spearheaded by the University of Bristol, with backing from the Nuffield Foundation, shines a stark light on a growing issue: divorcing ‘on the cheap.’ The study reveals that many couples, fearing high costs, decide to manage divorce arrangements themselves. This often leads to unfair divorce settlements, with women emerging as the disadvantaged party.
Legal Aid Cuts and Lack of Knowledge Lead to Unfair Settlements
In the wake of substantial legal aid reductions, couples are turning their backs on the legal system designed to ensure fair outcomes. The report, authored by Emma Hitchings, a family law professor, asserts that such decisions not only sideline legal fairness but also imperil women’s future financial stability. Astonishingly, the research found that 10% of homeowners did not know what equity they have in their home and over a third did not know the value of their own (let alone their ex-spouses) pension pot, leaving them without adequate knowledge crucial for equitable resolutions.
The Hidden Costs of Underestimating Legal Advice in Divorce
The fear of exorbitant legal fees is pervasive, although it is often less expensive than thought. The data indicates that nearly a quarter of divorcees who sought legal counsel spent less than £1,000, debunking the myth of prohibitive costs. Moreover, the lack of legal intervention has resulted in a glaring gap in pension-sharing arrangements, with only a fraction of divorces involving pension agreements. Consequently, many women, who typically have smaller pension provisions, face a precarious financial future post-divorce.
Easy Online Divorce: Your Ally in Securing a Fair Financial Future
In response to this alarming issue, Easy Online Divorce presents a solution that embodies both efficiency and affordability. We manage the divorce process and provide financial consent orders, safeguarding your financial future. Our aim is to mitigate the risks associated with ‘DIY’ divorces by ensuring that all assets, especially pensions, are fairly considered.
Empower Yourself with Knowledge and Expertise
A free consultation with Easy Online Divorce is the first step towards understanding your entitlements and securing your rights. Our expert team demystifies the process, offering clear, professional guidance tailored to your unique situation. We bridge the gap between the need for affordable services and the necessity of informed lawful measures.
Reform and Reality: Understanding the True Value of Assets in Divorce
The urgency for reform is echoed by the Law Commission’s contemplation of new legislative measures and the introduction of the divorce (financial provision) bill. These proposed changes reflect a crucial pivot towards equal asset division. Easy Online Divorce not only advocates for such reforms but also educates clients on the real value of assets, often misrepresented in media portrayals of divorce settlements.
Conclusion: The Wisdom of Professional Guidance
The Fair Shares report underscores a stark reality: divorces among every day couples are far from the high-stakes financial dramas drawn out in the media. As couples navigate the financial complexities of divorce, professional advice is not just a luxury—it is a necessity for financial fairness. Easy Online Divorce is here to guide you through these turbulent times, ensuring that your financial future remains intact.
At a time when financial and legal knowledge is critical, Easy Online Divorce is on hand to help you secure a fair and new beginning. Contact us today for a free consultation, and take the first step towards a divorce that respects your financial worth and dignity.