Financial survival tips as divorce numbers double in January

Published: The Telegraph | January 3rd, 2012

Jonathan West, Head of Family and Matrimonial, comments on the phenomenon known as D Day - Divorce Day.

Divorce day is the lawyers’ nickname for January 3 when thousands of unhappy couples return from the false cheerfulness of Christmas holidays determined to seek new and separate lives in the New Year.

Some lawyers claim it can be beneficial to part company when asset prices are depressed and the credit crunch and recession have created the ideal environment for some people to consider divorce.

Jonathan West said: "January typically sees more than double the usual number of divorce inquiries in any given month. The spike is attributed to the strain of spending time together over the holiday or the fact that many spouses wanting to divorce will hang on until after Christmas to avoid upsetting their families at that special time. Too much alcohol and the hangover from office party shenanigans also have their part to play.

"Is divorcing in a recession a good idea? Financially speaking, now may be precisely the right time to cash in your chips and call it quits if you are the wealthier half of a troubled couple.  On the assumption that the matrimonial pot will be split, it makes economic sense that the division occurs at a time when the asset base is at or near its lowest. Some may find this to be a cynical approach and to some extent it is, but divorce settlements are essentially 'on sale' for the paying spouse when the assets are valued at their lowest."

To read the full article see http://blogs.telegraph.co.uk/finance/ianmcowie/100014011/financial-survival-tips-as-divorce-numbers-double-in-january/

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