One in six divorces postponed due to financial pressure, survey finds

Across the country, 13 per cent said they had stalled their separation because of income concerns, while 12 per cent gave their reason as rising living expenses. 12 per cent also said the cost of divorce had delayed their plans.

The research also found that annual incomes for divorcees in Yorkshire and the Humber drop by an average of £11,868 (40 per cent) in the first year after a separation, while nationally this figure stands at £9,000.

While 38 per cent of divorcees in Yorkshire and the Humber said that the process is financially unfair, only five per cent sought financial advice.

Nationally, 40 per cent said they believed the process was unfair, with seven per cent seeking advice.

Paula Llewellyn, chief customer & strategy officer at Legal & General Retail, said: “We understandably focus much of our energy on the emotional side of separation but, as our research shows, money is an important factor that shouldn’t be ignored.

“Not only are people having to stay in marriages longer, because of their finances, but they are also facing increased struggles once they go it alone.

“A divorce is as much a dissolution of a legal contract as it is the end of a relationship. If you’re going through a divorce careful planning is essential to protect your future.”

11 per cent of divorced people in Yorkshire and the Humber said they hadn’t updated their will to exclude a former lover. This figure also stood at 11 per cent nationally.

On average, 45 per cent of all divorcees nationally see their incomes shrink in the year after divorce.

The research found that one in seven people will go into debt to pay the £2,500 price tag associated with getting divorced.

While 50 per cent of divorcing couples often consider the value of their family home, just 13 per cent consider pensions when dividing assets with their partners and 23 per cent actively waive their rights to the value of their pension, according to the research.

Only 31 per cent of people who have divorced have signed Clean Break Orders. Legal & General said this left two-thirds, or 69 per cent of divorcees exposed to future financial claims from their ex.