The Top 5 Financial Difficulties During a Divorce

The dreaded word… DIVORCE! The last thing on your mind and on one of the biggest events of your life is the process of a Divorce! Here is where Nayyars Solicitors aid you, to help relieve the burden!

During the divorce process, one of the main codivorce financial issuesncerns for a woman is her financial survival. Studies show that in the first year after divorce, a wife’s standard of living may drop by almost 27% whilst a husband’s can increase by approximately 10%.

A few factors that contribute towards the drop in the standard of living of woman include child support maintenance not being sufficient enough to cover the true costs of child rearing and the wife note being able to find a job having taken up the housewife role during the marriage. The wife may have lost many important years of career growth in comparison to the husband, therefore making it rather difficult for her to stand on her own two feet after divorce.

By familiarising yourself with the top 5 financial reasons associated with difficulties during the divorce process, you could save yourself a lot of time and possibly, unnecessary heartbreak!

1. Not enough cash: Expenses will weigh you down as soon as the divorce process commences, with outgoings such as legal fees, court costs and possible new living expenses. The earlier you have your finances in order, the better chance you have to stay afloat.
2. Not getting good professional advice: Here is where our professional team of Solicitors at Nayyars will be there to offer you the best advice possible. Most people are aware that the divorce process can be a very lengthy, complicated and emotional rollercoaster. Let us take care of this for you.
3. Little preparation: Before making any rash decisions, our helpful, friendly team of Solicitors will consult with you in an initial meeting. There can be a lot of fine details couples are not aware of prior to the divorce. Think about the timing of the separation. For example, is your husband due a bonus or inheritance in the near future? Don’t just pack your bags and leave with the kids and drive away with an old car that could have in fact been a new set of wheels, leaving you in the lurch with an extra bill!
4. Mixing money and emotion: Try your hardest to keep the two as far apart as possible. It is very easy for your emotions to take over the true facts in a daunting situation like this. For example, make property division decisions based on your own long-term best interests and not out of revenge. We will be there with you, every step of the way as professionals.
5. Not fighting for what is yours: Rest assured, our team of Solicitors at Nayyars are straight to the point – at the end of the day divorce is about survival and not making friends! Stand up for yourself and get what is your rightful share. Our clients are our number one priority, always.

Faaria Basharat.
Paralegal.