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Cost of divorce rises to over £14,500

18th January 2018

The cost of separation and divorce has increased by 17% over the past 4 years.

According to a report by Aviva, the legal and lifestyle costs of separation in 2018 amount to an average of £14,561 - up 17% since 2014 when the total was £12,432.

Overall, £1.7 billion is spent on separation costs in the UK - an increase of £100 million since 2014.

Legal fees make up a large amount of the expenses, having more than doubled from £1,280 to £2,679 over the same period.

Setting up a new home also represented a significant cost for people going through separation or divorce, as it was revealed 16% buy a new property and 51% return to renting.

Paul Brencher, health and protection director at Aviva UK, said:

"The breakdown of a marriage or long-term relationship is likely to be one of the most emotionally demanding life events for people who experience it.

"Such circumstances are made all the harder due to the lack of preparedness by many.

"Ensuring a better mutual understanding of household finances can make navigating the process more manageable if the relationship takes an unforeseen turn."

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    icaew chartered accountants  acca