Neil Russell, Partner and Head of Family, spoke with Nick Ferrari on LBC about the latest ONS statistics, which show that marriages are lasting longer than ever before.
When asked by Nick why this is the case, Neil explained:
“Some people are stuck in marriages because they can’t afford to get divorced for reasons that include the inability to afford two homes [and] the higher mortgage rates that people are having to pay.”
Neil also highlighted that pensions are a significant factor. The longer a marriage lasts, the larger the pension pots tend to be, which can make the financial side of separating more complex.
His advice to anyone considering divorce was to consider the implications and to understand that there a more options open to married couples than just divorce.
Listen to the full clip below:
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