Divorce doesn’t have to be hostile or dramatic — but even the most amicable break-up comes with financial decisions, admin, and a few costs you need to be ready for.
Here’s a clear, straightforward guide to help you understand what to expect, what to organise, and how to protect yourself financially before, during, and after a divorce.
Before Anything Goes Wrong: The Helpful Conversations ❤️
Talking about divorce when you’re happily married might feel strange, but money transparency can save a huge amount of stress later.
- Both partners should understand the finances.
When one person “handles everything”, the other can feel vulnerable or exposed if things change. - Talk openly about money.
Even if you never expect to separate, agreeing on what fairness looks like can prevent conflict later. - Consider a prenup or postnup.
These aren’t just for celebrities. They outline how assets should be divided and can help ring-fence inheritance money, pre-marriage savings, or business interests.
They’re not legally binding, but if they’re fair and voluntarily agreed, courts often take them seriously.
This isn’t pessimistic — it’s sensible planning.
When You’re Preparing for Divorce 📋
Before any formal paperwork begins, it’s important to get a full picture of your finances.
Make a clear list of everything you own
Include:
- bank accounts
- savings and investments
- ISAs
- pensions
- property
- business assets
- antiques, valuables or collectables
Get anything complex professionally valued.
Pensions are often the biggest overlooked asset
There are three main ways pensions can be divided:
- Pension sharing: splitting the pot now in a clean, straightforward way.
- Pension earmarking: one partner receives a portion of the pension income in future.
- Pension offsetting: one person keeps the pension while the other takes assets of similar value (like ISAs or equity in a house).
A lot of couples don’t realise just how valuable pension pots are — they’re often worth more than the home.
Understand the potential costs
A no-fault DIY divorce is now simpler and cheaper:
- The court fee to apply is £612
- A financial consent order (recommended) has a £60 court fee
- A solicitor to draft the consent order can cost £400 – several thousand, depending on complexity
If you can agree early, costs stay low.
If you can’t agree and it becomes contested, court fees and legal bills rise quickly.
Decide what help you need
Depending on your situation, you may involve:
- a family lawyer
- a mediator
- a financial planner
- a tax adviser
Set expectations early — including who pays for what.
During the Divorce Process ⚖️
Get a financial consent order approved by the court
This is crucial.
You can divide finances informally, but without a court-approved consent order, your ex could make a future claim — even years later.
A consent order protects both sides and gives you a clean financial break.
Expect time and paperwork
If you have:
- children
- property
- complex assets
- business interests
…everything takes longer and costs more.
Try to stay organised and keep records of everything.
After the Divorce: Tying Up Loose Ends 🔧
This part is easy to overlook, but it matters.
Review your insurance
Some policies may have been joint or linked to your ex, including:
- life insurance
- private healthcare
- home and car insurance
Update or replace anything necessary.
Update your will and beneficiaries
Your previous will likely won’t reflect your new situation.
Also check:
- pension beneficiaries
- life insurance beneficiaries
- trust arrangements
Protect maintenance payments
If you receive child maintenance or spousal maintenance, consider insurance that covers this if your ex dies unexpectedly.
Close joint accounts
This is essential.
If you don’t close them, your ex’s future debts or missed payments can affect your credit score.
After closing everything, write to:
- Experian
- Equifax
- TransUnion
…to request a notice of disassociation, which removes your financial link.
Keep a clear file of all divorce documents
You may need these for mortgages, future planning, or legal queries.
Moving Forward 💛
Most people experience a financial reset after divorce.
It’s a big life shift — financially and emotionally.
A few helpful steps:
- build a new budget based on your single-person income
- start rebuilding savings pots
- review insurance and emergency funds
- set fresh financial plans for the future
There is no “right pace”. Just take it one step at a time.
If any of the financial terms feel unfamiliar or you’d like things explained more simply, feel free to reach out — and always make sure you’re getting proper legal advice for the bigger decisions.
