Divorcing in a cost-of-living crisis

The number of divorces in England and Wales has dropped to its lowest level since 1971 - but don’t be fooled by the figures; while fewer couples are formally ending their marriages, financial disputes between those who do split are rising dramatically.

According to a recent article in The Times, contested financial remedy orders rose by 66% in 2023, reaching 10,300 cases - the highest figure since the 2008 financial crisis. It’s a strong reminder that the end of a marriage is no longer just an emotional decision, but increasingly a financial battleground.

At Coles Miller, we understand how a divorce during a time of economic pressure can become complicated and contentious. That’s why our expert Family Law team is here to help you protect your interests and achieve a fair outcome - no matter how complex the case.

Case study: Clive Standish’s £80 million divorce

A high-profile example involves Clive Standish, a former UBS finance chief, who is challenging a £80 million divorce settlement. His case could reset legal boundaries around what’s fair in complex, high-net-worth separations.

Though few divorce cases involve figures that large, they often share similar issues:

• Disputes over property and investment portfolios
• Business ownership and valuation
• International or offshore assets
• Complex pensions
• Trusts and inherited wealth

At Coles Miller, we work with individuals and families with significant financial portfolios. Whether it’s negotiating a settlement or representing you in court, our goal is to secure a future that reflects your contributions and needs.

Delays in the court? consider smarter options

One major frustration facing divorcing couples today is the growing court backlog. Cases are taking longer than ever - especially those involving children or finances.

But there are ways around the delay.

We can guide you through alternative dispute resolution options such as:

• Mediation: To help reach agreements with less conflict
• Collaborative law: Where both parties work with trained solicitors outside the court
• Private FDR hearings: Like a judge - led negotiation session, but faster and more flexible
• Arbitration: A binding, private decision without going through the full court process.

These options often lead to quicker, less stressful resolutions, and can preserve privacy in high-profile or high-asset cases.

Legal help for financial settlements - what we offer

At Coles Miller, our family lawyers are specialists in:

High-net-worth divorce

High-net-worth divorces involve individuals with substantial assets - typically including businesses, investment portfolios, multiple properties, pensions, and international holdings. These cases are often more complex due to the size and nature of the financial arrangements, requiring expert legal and financial advice to ensure a fair settlement.

Business and asset division

When one or both spouses own a business, it can be considered a matrimonial asset. Determining its value - and how it should be divided - is a critical and often contentious part of a divorce. This process may involve:

• Valuing business shares
• Assessing future income streams
• Deciding whether one party should retain the business
• Structuring a settlement that avoids harming the ongoing business.

Pensions and investments

Pensions are often one of the most valuable assets in a marriage, yet they are frequently overlooked during divorce. Legal professionals help clients understand:

• How to fairly divide pensions (including defined benefit schemes)
• Whether pension sharing or offsetting is more appropriate
• The importance of full financial disclosure to identify hidden or undervalued investments.

Spousal maintenance

Also known as ‘spousal support’ or ‘alimony,’ spousal maintenance involves ongoing financial payments from one spouse to the other after divorce, especially when one party has significantly lower earning capacity. Courts will consider:

• The needs of both parties
• Standard of living during the marriage
• Duration of the marriage
• Whether the receiving spouse can become financially independent over time

Property and international asset settlements

In high-net-worth cases, there are often multiple properties across different jurisdictions. Settling these requires:

• Valuing UK and overseas properties
• Understanding local property laws in other countries
• Managing tax implications
• Ensuring enforceability of settlements across borders.

Prenuptial and postnuptial agreements

These agreements set out how assets will be divided in the event of a divorce:

• Prenuptial agreements are signed before marriage
• Postnuptial agreements are signed after marriage
  Though not automatically legally binding in England and Wales, courts give significant weight to these documents - especially if they are fair, properly drafted, and both parties had independent legal advice.

We also work closely with accountants, actuaries and wealth managers to ensure every financial aspect is covered and disclosed fully.

What should you do if you’re considering divorce?

We recommend:

• Get legal advice early - before discussing or agreeing to anything
• Know your financial picture - understand assets, liabilities, pensions, income
• Avoid emotional decisions - think long-term security, not short-term relief
• Use alternative resolution if possible - avoid court stress and delays

How Coles Miller can help

Whether you’re facing a simple split or a complex, high-value financial dispute, our team will guide you every step of the way. We tailor our approach to your needs - with a discreet, strategic and focused plan for the best outcome for your future.

Take action early - secure your position

As financial remedy cases become increasingly contested, it's crucial to seek advice early, before the situation escalates or becomes more costly. Whether you're contemplating separation or already navigating proceedings, Coles Miller is here to help you make informed decisions, protect your assets, and secure a fair outcome.

Anna Burton (Associate Solicitor, Bournemouth head office) is a highly experienced family lawyer who specialises in matters including divorce, dissolution of civil partnerships, separation, financial remedy proceedings, complex family law cases involving children, cohabitation agreements, adoption, pre/post-nuptial agreements, jurisdictional issues and family injunctions.