Changes to spending on legal and lifestyle costs on separation
According to Aviva’s Family Finances Report, UK couples spend an average of £14,561 on legal and lifestyle costs when they break up, which is an increase of 17% since 2014 when it totalled £12,432 The report found:
- Couples typically spend £14,561 on legal and lifestyle costs when they divorce or separate, an increase of 17% since 2014 when the total was £12,432
- Total UK cost of separation expenses reaches £1.7 billion, up £100 million from 2014
- One in six (16%) who separate also buy a new home, spending an average of £144,600
- Affordability issues mean 51% of those who separate turn to the rental market, at an average annual cost of £7,519
- Legal fees associated with divorce more than double, from £1,280 in 2014 to £2,679
Money matters take an average of 14.5 months to settle after a split – three months longer than in 2014.