A new survey has revealed that 34% of married Britons aged over 50 say the only thing preventing them from filing for divorce is the cost, which can reach up to £30,000 for a contested case. The research, conducted by digital wealth manager Moneyfarm among 2,000 married Britons, highlights what it calls an 'empty-nester divorce trap'.
Half of respondents regularly contemplate leaving their spouse, but financial concerns are a major barrier. One in four worry they would not receive a fair settlement, and nearly a third fear being left in financial ruin. Women are more anxious than men about walking away empty-handed, with 65% admitting financial dependence on their partner and 40% feeling trapped due to reliance on their partner's income, savings, and pension.
Other reasons for staying include not wanting to distress children (38%) and fearing life alone (22%). A quarter said their marital difficulties began after their children left home. Worryingly, 69% of married Britons have no idea about their rights regarding their spouse's pension in the event of separation, and 41% have no idea how to go about getting a divorce.
Carina Chambers, financial expert at Moneyfarm, said: 'Divorce can be one of the most financially and emotionally stressful moments in life, particularly for those who feel unable to leave unhappy marriages because of financial insecurity. Our research highlights widespread concern about financial stability during and after divorce, showing that the grey divorce trap is becoming an increasingly real issue for middle-aged Britons.'
On a positive note, 23% said they would rather try to salvage their marriage before making divorce final, while 22% simply wished they had married someone else. The findings underline the complex interplay of finances, emotions, and practical knowledge facing older couples contemplating separation.
