The true cost of getting a divorce

Couples typically spend £14,561 on legal and lifestyle costs when they divorce or separate, an increase of 17 per cent since 2014 when the total was £12,432, according to findings in a new financial report.

The total, which equates to just over £7,280 for each partner, takes into account factors such as legal fees, setting up a new home or redecorating a previously shared one and childcare costs - as well as costs associated with starting afresh, such as getting back into the dating scene, splashing out on a new wardrobe or jewellery and taking up a new hobby or skill.

On average, money matters take 14-and-a-half months to settle after a split, the research among over 1,000 people who have previously divorced or separated found, with increases to legal bills partly behind the rising divorce costs seen in recent years.

Among the people it surveyed, legal fees were found to be the most common cost when a relationship ends, encountered by over half of those who had split. Many also faced the cost of setting up a new home, with more than half of those surveyed moving to the rental market after their divorce or separation and one in six saying they had bought a new home.

Of those currently renting as a result of their split, seven in 10 feel that they will be unlikely to buy a property in the future.

The cost of a relationship breakdown has left some dipping into their savings, borrowing or reducing their pension contributions, the research found.

Nearly one in three say they have dipped into their savings for financial support, while over a quarter admit using credit cards for this reason.

Close to a quarter have also borrowed from friends and family to tide themselves over.

Paul Brencher, Aviva UK health and protection director 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.”

He said that, with the costs involved, “it is little surprise that they are drawn towards their savings for support or borrowing from friends and family”.

He added: “Many additionally find themselves priced out of the property market.

“While it may seem completely unnecessary to plan for such an unfortunate life event, it is important that both partners in a relationship take an active interest in their financial affairs.”