New research has revealed that the tough economic climate is leading to more couples delaying divorce proceedings.
The findings come from financial and business advisor Grant Thornton’s 2011 matrimonial survey, published on 31 August, which canvassed the opinions of 101 leading family lawyers, based on their work in 2010.
The survey found that 82 per cent of respondents thought the unsettled economy had led to delayed divorces. However, some respondents said that clients who were splitting had taken advantage of the recession depressing the value of assets, such as property, and income to achieve lower settlements.
Elsewhere, 94 per cent of respondents reported that hidden assets were revealed in up to three in ten cases they dealt with and 30 per cent felt that a client did not obtain a fair settlement due to undisclosed assets.
For the first time since the survey began in 2003, extra-marital affairs were not the top reason for divorce, slipping into second place on 25 per cent – the lowest level in the survey’s eight years – behind growing apart or falling out of love (27 per cent). Unreasonable behaviour (17 per cent) and mid-life crisis (10 per cent) were the other most significant causes.
The 2010 Supreme Court ruling in the landmark case of Radmacher v Granatino – which threw out a challenge to a pre-nuptial agreement, clarifying – has triggered an increase in work around pre-nups. A total of 58 per cent of respondents said their pre-nuptial advisory work had increased in 2010 and 89 per cent said they expected, or had already seen, a rise this year.
Victoria Daniell, head of the Family department at Gregg Latchams, said: “The survey makes interesting reading and suggests a trend towards an increasingly pragmatic approach to marriage, for example in delaying divorce for financial reasons and the fact that infidelity as a reason for divorce has fallen to its lowest since 2003.
“The growth in family lawyers’ work around pre-nuptial agreements also indicates that couples are increasingly considering putting such arrangements in place now that the Supreme Court has given greater legal weight to pre-nups.
“Although trends in divorce will inevitably change over time, what will always remain the same is the need for expert advice from an experienced family lawyer, to help negotiate and resolve the issues involved constructively and in a non-confrontational way wherever possible.
For more information, please contact the Family department.
