Will January see a change in UK divorce settlements?

Online, January 26, 2010 (Newswire.com) - • 48% of solicitors saw a delay in reaching divorce settlements in 2009 as their clients held off reaching a financial settlement
• Two fifths of solicitors say the time taken to reach a divorce settlement has increased in the past year
• Half of solicitors say that they were approached by fewer divorce clients in 2009 due to the current climate
• January is usually the busiest month for divorces but legal experts dispute whether economic conditions will hinder or inspire a New Year rush

January is traditionally the busiest period for divorce proceedings and with research* from Unbiased.co.uk, the professional advice website, showing that Britons held off reaching a financial settlement in 2009, legal experts debate whether January will still see Britons released from the divorce settlement bubble.

The majority of solicitors (72%) believe that the economic downturn has influenced their clients' attitudes towards their divorce, with the main trend being delaying reaching a settlement. 48% of solicitors say that their divorce clients were keen to delay reaching a financial settlement until the economy recovered and the value of their assets increased, while one in ten (10%) of solicitors say their clients delayed their settlement in case the economy got worse and their assets were worth even less.

Half (50%) of solicitors believe that recent market conditions led to fewer divorce clients approaching them in 2009 which could suggest that people have been delaying seeking legal advice in the first place on their divorce and separation matters.

Karen Barrett, chief executive of Unbiased.co.uk, says, "Traditionally, more people file for divorce in January than at any other time of the year because they decide to take action after the Christmas break. While the credit crunch has led to many people to put off major financial decisions, seeking professional advice as soon as possible is always the best step to get your financial affairs in order. Getting a divorce can be a stressful enough process without also waiting to reach a financial settlement for a prolonged period of time. A family solicitor will help you through the divorce process and ensure you get everything you are entitled to from the final settlement.

"To find a solicitor who can assist with divorce and seperation matter consumers can go to Unbiased.co.uk and search for a local solicitor who speciliases in divorce proceedings."

Shelley Hesford, Partner at SAS Daniels LLP, said, "People have been battling to keep marriages intact, but many have simply cracked and crumbled under the relentless pressure of recession. People see the Christmas break as a hiatus in their lives during which they can end one chapter and try to start the next. There is also no doubt that an improvement in the housing market has been an influence, with more cash being realised from the sale of the marital home. To my knowledge this is the busiest our firm has ever been for instructions to proceed on filing for divorce.

"People realise that by delaying they are simply prolonging the agony - some of our clients have been sitting on the fence for months, but they now want to move fast and start new lives as quickly as possible. There's no doubting that an emotional time such as Christmas has pushed many people over the edge."

Rachel Spencer Robb, Associate with Clarion Solicitors LLP, said, "Every year family solicitors brace themselves for the "January rush" as unhappy marriages feel the pinch of financial pressure over the Christmas period and a stressful holiday time with the children, in laws and families trying to be all things to all people. However, the economic difficulties that we have had over the past couple of years have meant that, from my experience, clients are more cautious about rushing to the solicitors. Why spend more money that could be put to better use within the family? Couples are more attracted by the idea of mediation and collaborative law and see court proceedings and the involvement of lawyers as a last resort."

You can find a divorce solicitor near you via Unbiased.co.uk's 'find a solicitor' search and an IFA via the 'find an IFA' search. Both searches are completely confidential and free of charge. Visit Unbiased.co.uk to watch the "Divorce advice" webcast and get more information on divorce.