How To Ease The Heartbreak
Money Magazine Australia|November 2020
Couples who are financially and legally prepared for a break-up are in a better position to cope and move on
Julia Newbould
How To Ease The Heartbreak

At the beginning of Covid-19, there were predictions that the number of divorces would spike as couples found being forced to spend more time together would deepen any relationship cracks.

To date this hasn’t happened, although solicitor Fiona Reid, from Reid Family Lawyers, says there has been a spike in inquiries from people who have decided their marriage or de facto relationship has come to an end – probably double the number compared with the same time last year.

“The reason largely for the spike is that financial pressure is one of the big death knells for relationships. The isolation combined with home schooling and the pressures that brought – it highlighted the cracks already present and turned them into massive crevices because people didn’t have the escapes they normally have,” says Reid.

“Some people have felt unsupported by partners, and also excessive alcohol and infidelity have become more of a problem because it’s hard to hide an affair if you’re together 24/7. We’ve seen people who’ve seen texts pop up from girlfriends or boyfriends, or didn’t notice their partner’s drinking when they had other things to focus on.”

Reid says some of the inquiries have been about fact finding while others have been after the decision has been made. “They need to know what the financial deal and family obligations will be so they go into the process with knowledge,” she says. “It’s a massive decision and it’s an uncertain time.”

Splitting the assets

Denne historien er fra November 2020-utgaven av Money Magazine Australia.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra November 2020-utgaven av Money Magazine Australia.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA MONEY MAGAZINE AUSTRALIASe alt
An outrageous, beautiful monopoly
Money Magazine Australia

An outrageous, beautiful monopoly

Telstra's mobile business is a cash machine with few competitors, giving it the highest returns in the world.

time-read
4 mins  |
July 2024
Drop the anchor to judge value
Money Magazine Australia

Drop the anchor to judge value

Buying and selling decisions should be based on where a stock price is going, not where it has been.

time-read
3 mins  |
July 2024
Powering the AI boom
Money Magazine Australia

Powering the AI boom

Beyond the software and chipmakers, where will the energy come from?

time-read
3 mins  |
July 2024
Get into life
Money Magazine Australia

Get into life

Tucked inside super are products that can protect you from life's inevitable uncertainties.

time-read
5 mins  |
July 2024
Paths to home ownership
Money Magazine Australia

Paths to home ownership

Taking the road less travelled can sometimes deliver unexpected benefits.

time-read
5 mins  |
July 2024
Sold! Quick ways to add value
Money Magazine Australia

Sold! Quick ways to add value

Small, strategic changes can have a big impact on the look and feel of your home. And get you a better price on auction day.

time-read
5 mins  |
July 2024
Money lessons the kids need to know
Money Magazine Australia

Money lessons the kids need to know

Your children can learn a lot from your past money mishaps. Here are eight financial conversations I have had with mine.

time-read
4 mins  |
July 2024
Property-investing rules: are they likely to change?
Money Magazine Australia

Property-investing rules: are they likely to change?

The pressure for the government to curb the tax benefits of tax concessions, such as negative gearing and the capital gains tax discount, is unrelenting. Most recently, independent senators David Pocock and Jacqui Lambie proposed five options for paring back investment property tax concessions, with savings to the Federal budget of up to $60 billion over the next decade.

time-read
3 mins  |
July 2024
What's love got to do with it?
Money Magazine Australia

What's love got to do with it?

A rollercoaster of emotions could be driving poor crypto behaviour.

time-read
3 mins  |
July 2024
Are we ready to be cash-free?
Money Magazine Australia

Are we ready to be cash-free?

Saying goodbye to our piggy banks too soon could leave small businesses in the dark when problems arise.

time-read
2 mins  |
July 2024