UK Money News
17th December 2007
'Clean solutions advisable' during divorce
People who are in the process of seeking a divorce should make efforts to agree the division of property amicably, it has been stated.
Independent personal finance advice firm Lowland Financial states that to make the divorce process easier and more sustainable it is in the interests of all concerned to attempt to agree how to split assets.
Graeme Mitchell, managing director of the "general practice" independent financial advice firm, says: "[Divorcing couples must] make a list of all the assets they've got; they've got to start with what's actually already in place in terms of assets, and what has been accrued or accumulated since they've got together ... which effectively has to be shared."
He added that those with children might consider holding on to the family home while they grow up - as later downsizing releases capital and can provide valuable help with money to partners.
According to government statistics, in 2006 the divorce rate was 12.2 divorces for every 1,000 marriages - a figure which had fallen for two consecutive years.
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