Nearly half (41%) of divorces result in one party feeling financially disadvantaged, but just 7% of people seek advice from a financial adviser during the process, according to Legal & General.
The firm said this lack of professional guidance leaves many vulnerable to significant financial pitfalls with potential long-term consequences. The research shed light on common financial missteps divorcing couples face as they separate their assets, including: Overlooking pensions: While 50% of divorcing couples consider the family home during asset division, only 13% account for pensions. Nearly a quarter (23%) actively waive their rights to their partner's pension. Failing to update wills and beneficiary details: About one in ten divorced individuals (11%) forget or delays remo...
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