Does the recent financial turmoil affect your marriage or relationship? The sad answer is that it’s very likely that it does.

If you are thinking of separating or are in the process of separating then in most cases the main family asset is likely to be your home. It goes without saying that your home is now worth considerably less than it was this time last year. Your pensions, policies and investments are also likely to be devalued. There is certainly less to go round and this makes life difficult for couple who have decided to separate.

What can you do? One answer is to stay together and try and work things out for the sake of your relationship or family. There are plenty of organisations out there such as Relate who can help you resolve any emotional issues there be.

If you simply have to separate then you must be smart about how you proceed. If you decide to litigate against your partner (starting Court proceedings) then you can guarantee that a proportion of your family assets will be swallowed up by legal costs. Sometimes it is necessary, but it can be avoided.

Most family solicitors are members of Resolution which commits them to resolve disputes in a non-confrontational way. They will either be able to help you reach an agreement with your partner without starting Court proceedings or recommend other ways to reach an agreement. A popular method of reaching an agreement is by way of Collaborative Law. It allows you and your partner to reach shared solutions and agreements away from the Court, giving you more control of the situation. This is achieved by a series of four-way meetings when you and your partner meet with your solicitors in the same room and address the issues important to you together, face to face. It’s not suitable for everyone but it allows you and your partner to make the key decisions about your future rather than the Court.