Your money or your Wife: by Eilish Adams - The Law House Family Law Solicitors, London & Peterborough


Your money or your Wife: by Eilish Adams

By in All Blogs, Wills, Trusts & Probate Category on September 9th, 2013

I was intrigued to read the article in the Guardian on Saturday which pointed out that we are more loyal to our bank than to our partners. On average each of us will stay with our bank for approximately 17 years whereas the average British marriage lasts 11 years and 6 months. Scots are even more loyal, staying approximately 19 years with their bank. The Guardian article also states that like our parents we will use the same bank as they did so one question is will we sensibly follow the same approach to our marriages and relationships as our parents do when they begin to fail?

Without doubt ending a marriage or any relationships is not easy. It appears that many of us are more proactive at ending unhealthy relationships than changing our bank accounts. I can only speak for myself when I say that my relationship with my bank has not always been a happy one and like most people I am still with the same bank after 20+ years. I have been married 17 years with no plans to divorce.

Why is it that we more likely we will make a decision to end a marriage rather than change our bank? The main issue with changing banks appears to be the fact that we worry about the catastrophic consequences of direct debits and other important payments going awry. Without doubt though the impact on our lives on ending a marriage is potentially more catastrophic and can have more impact long term for those involved. I wonder if the essential difference is that we can tolerate the banking system, for good or bad, a lot longer than our relationships when they go sour? With banks we are sadly ignorant about how to change accounts and being British we don’t like talking about money so take no action for longer. Our decisions, when it comes to ending relationships or getting a divorce, can be viewed a number of ways. It could be seen as a sad reflection on society as a whole that we struggle to sustain relationships in an ever changing world or a positive action when things clearly are not working out. If we are in a relationship that is failing or “on the rocks” or are thinking about getting a divorce we are more likely to take professional advice and start from there.

We will recover, by and large, relatively unscathed when we change bank accounts. In the scheme of things our relationships are the most important thing and so should take priority. If it takes a little longer to change bank accounts so be it.

While it might take a lot longer to end a marriage and tie up the loose ends the good news is that from the 16th September changing banks will be a lot easier, just seven days. We cannot promise to initiate and finalise your divorce or separation in seven days but when it comes to family matters we promise Great solicitors, great service, every time. If you are happy with your bank service that’s great but if you are in a relationship that has all but ended and are thinking about divorce and would like to talk to one of our family solicitors please either call us on 020 8956 2655 or e-mail Silvana Bedford at sbedford@thelwhouse.com