Personal Finance

Carol Brick: For richer, for poorer – the pitfalls to watch out for when separating

When going through a divorce or separation it is important to get financial affairs in order, or they could add to what is already a stressful situation

Professional legal and financial advice can help establish independent financial stability, enabling both parties to move on after separation. Picture: Getty/iStockphoto

There is no doubt that divorce or separation can be an emotional, turbulent and stressful time. A partner who is not earning outside of the home, more often a woman, can feel financially vulnerable. Some people, too, may not have that much experience in financial matters, as, often in relationships, one or other partner can take on the household finances and money management.

Many people worry most about how a separation or divorce could impact ...