Aviva warns people to plan for possibility of divorce

By Lenore Rice

Couples are being advised to plan for the worst case scenario of divorce and create a financial plan to avoid thousands of pounds in costs in the event of a separation.

Louise Colley, the protection director at Aviva, says couples who divorce or separate can be hit with as much as £22,000 each in costs as a result of not having reviewed their finances when entering into a relationship. Ms Colley says that approximately two thirds of co-habiting and married couples share their finances, often using a joint account to receive their salary payments and to make mortgage payments and deal with other expenditures. If the couple divorces or separates they can then face a long battle to resolve their financial matters.

If you require legal advice from a divorce solicitor in Northern Ireland about how to divide your assets after a separation, contact Wilson Nesbitt in Belfast or Bangor by calling 0800 840 1363.