Cash-strapped couples arguing over divorce settlements could end up paying more in fees than the value of their assets.
But a top Scots legal expert says that the legal costs of separating can be reduced significantly if couples can reach an agreement themselves.
Stephen Brand, accredited specialist in family law and partner at Thorntons, says that couples who can agree between themselves as to who gets what could significantly cut their legal costs.
He said: "The recession has repercussions for all those contemplating separation and those in the process just now. With purse strings tightening, it's more important than ever to seek specialist advice – but many people worry about legal costs when it comes to seeking legal advice.
"Some parties will decide between themselves how their assets are to be divided and have no wish to spend the time or money to obtain full disclosure of assets, valuations of assets or advice on how the law believes their property ought to be split."
This may speed up the process for them and reduce costs – but couples should be aware that a solicitor would not be able to judge if the terms were fair and reasonable without a complete picture of what the net value of the matrimonial assets are worth.
Stephen, who also advises on www.divorcelawscotland.com added: "Couples seeking a divorce should bear in mind that the current economic climate continues to have an impact on divorce settlements due to the drop in house prices and under-performing investments.Solicitors are only now becoming aware of just how bad things are, or could potentially be, and so have to be even more vigilant in the advice we give clients, considering more carefully how proposed settlements are to be achieved and draw more input from other relevant professionals such as financial advisers and actuaries where necessary."
Issued by Beattie Communications on behalf of Thorntons Solicitors.
Contact: Kimberley Hamilton, Tel 01698 787878