How divorce can affect financial and mental health

On behalf of Peterson Stark Scott posted in Divorce on November 4, 2019.

There are many areas of life that can be affected when a couple decides to part ways. Not only can divorce create financial hardship for each individual, but it may also have an effect on a person’s mental health. British Columbia residents who are going through a divorce or separation are usually stressed about their financial situations, which — in turn — can wreak havoc with their overall well-being, including mental health.

Statistics show that about 40% of all marriages in Canada end in divorce before they reach the 30-year mark. Debt stress is also on the rise in the country and is exacerbated by divorce. It has become so bad, that divorced individuals are more prone to stress related to debt and other psychological stressors. Added stress can make symptoms of depression and anxiety much worse.

If the couple owned a family home, chances are it will be listed for sale. Each individual will have the added burden of having to find a new place to live — and many people are neither financially nor emotionally prepared for that. Even when a couple has made the decision to divorce, they should discuss their financial picture, take stock of assets and debts and make a plan for moving ahead as single individuals.

Divorce can be difficult in many ways. When a British Columbia couple makes that decision, chances are they have not done so lightly. Getting independent legal advice from a lawyer experienced in family law may able to assist a client to alleviate some of the tension. There are nuances to manage in the divorce process — things with which a lawyer may be able to help.

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