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Thu 31 May 2012
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Number of asset disputes among divorcing couples set to rise
Fri 09 Jul 2010
The number of asset disputes among divorcing couples has been tipped to increase this year.
Legal information provider Sweet & Maxwell stated that four years ago, 24 per cent of settlements involving couples with no children that were heard in county courts were contested.
However, this figure rose to 28 per cent in 2008 and is expected to be higher again this year, the Evening Standard reports.
The organisation has attributed this rise to the economic slump during this period, as concerns about job security and bonuses are fuelling distrust and doubt among former spouses.
Sweet & Maxwell also noted that many individuals are questioning whether they can meet their maintenance payment obligations in the current economic climate.
The couple added that asset disputes are most common among those who do not have any children, as parents are more hesitant to enter into a dispute regarding funds that may go to their sons and daughters.
Carol Ellinas, a partner at Winckworth Sherwood Solicitors, commented: "There is no doubt that clients are less optimistic about their short term and long term financial prospects and as a result are less likely to accept proposals which they see as unfair.
"Whereas in the past they may have 'taken it on the chin' knowing that they could probably work their way out of financial difficulties, clients are no longer so confident.
"This can potentially lead to more litigation but it also is a test of the lawyer's ability to negotiate on behalf of their client rather than engage in expensive court proceedings.
"Solicitors need to carefully explain all the options available to their clients when divorcing or separating and give an estimate of the costs involved in going to court.
"Family law solicitors have a duty to try to negotiate a settlement before issuing court proceedings and in the current economic downturn this duty becomes even more pressing."
This comes after the Office for National Statistics reported that 45 per cent of all marriages in the UK now end in divorce.
