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Divorce Increase for Over 50s

Contact the Family Team

 

Exeter Office

Tel: 01392 210700     Email us

 

St Austell Office

Tel: 01726 74433       Email us

 

Truro Office

Tel: 01872 265100     Email us

Just over two weeks ago the National Audit office reported that divorce rates were at their lowest for 29 years.  What the figures masked, however, was another trend.  One going in the opposite direction - there was a further increase in divorce rates for those over 50.  These rates have been steadily increasing over the last 10 or so years. 

Perhaps these figures should come as no surprise.  We are said to be wealthier per capita head now than we ever have been and later in life we are likely to be more financially secure with our own homes, pension funds and savings.  If there was a time to go it alone, then now would be such a time.

A recent survey in the SAGA magazine revealed that for those married couples divorcing over the age of 50 one of the main reasons was a realisation that they had spent years putting the needs of others before their own and once their children had flown the nest then it was time for their own needs to be met or the fact that they had simply grown apart.

For whichever reason a marriage breaks down the reality is that financial matters will need to be resolved as swiftly and efficiently as possible to allow both parties to move on with their lives.  Whilst the family court will fundamentally adopt the same principles when looking at a divorce between a couple in their 30s and one in their 50s, the reality is that sorting out a financial settlement for those over 50 can be more complex.  Some of the issues may be:

  • Pensions may be in payment or soon to be taken.  How should they be split and should there be an external or internal transfer?
  • How do you obtain an equality of income?
  • Should there be a maintenance order? 
  • How should the capital be divided to provide a home for both parties?   

The order or agreement reached in financial matters will directly impact on post-divorce quality of life for years to come.  Consequently, it is important to obtain legal advice at an early stage to understand the options available to you.

At Stephens Scown we have specialist solicitors, nationally rated to help you through this difficult time and assist in exploring the best options for you.