When couples fall in love later in life, they often have more assets and commitments to consider than younger couples. We’ve put together a series of articles covering a range of topics to help couples protect themselves in the event that they separate.
While younger people are marrying and divorcing less and less, older populations are getting married more frequently and divorce rates in later life have increased by 20%. Many of those marriages are second marriages and many couples already have children they want to ensure are provided for in the event of divorce or when they pass away.
This article covers some of the key points to consider, providing an overview of a series of articles for couples who fall in love later in life:
- Marrying in Later Life – protecting your finances
- Divorce in Later Life – advice on Trusts for the over-60s
- Cohabitation Agreements – what are the benefits?
- Maintenance variation and capitalisation in later life
- Applying for pension sharing orders if the pension is in payment
- What to do if you change your minds about getting divorced
Our Love in Later Life series
#1 – Marrying in Later Life – protecting your finances
Marrying in later life can spark some complex financial issues. In this article we provide advice on how to approach financial discussions with your partner and family, what to consider before you marry and the how to protect your finances.
You can read the article here.
#2 – Divorce in Later Life – advice on Trusts for the over-60s
Trusts are often seen as a good way to protect family assets from divorce and it’s true that they can be an effective tool. However, there are exceptions.
This article looks at how Trusts are viewed by divorce courts and what relevance they have for couples who are planning on getting married or divorced later in life.
You can read the article here.
#3 – The Cohabitation Agreement – what are the benefits?
Unmarried couples do not have the same rights as married couples upon separation. Cohabitation Agreements are incredibly flexible documents that can go a long way to help protect your finances and assets, especially if you’re planning on moving in together later in life.
This article covers what a Cohabitation Agreement is and what it can include.
You can read the article here.
#4 – Maintenance variation and capitalisation in later life
Sadly, we often see divorced couples having to litigate over maintenance in later life, as circumstances and needs change. In this article, we look at the benefits of choosing ‘capitalisation’ (a lump sum enabling a clean break) rather than maintenance variation and how capitalisation amounts are calculated.
You can read the article here.
#5 – Applying for pension sharing orders if the pension is already in payment
Many people are under the impression that it’s not possible to share pensions on divorce if the pension is already paying out – but that’s not true. This article breaks down the misconception and offers tips on what to assess when dealing with pensions that are already paying out.
You can read the article here.
#6 – What if we change our minds about getting divorced?
Separating is rarely an easy decision, but what happens if you’re part way through the divorce process and you change your minds? This article looks at what happens during each stage of the divorce process and the logistics of stopping it.
You can read the article here.
If you would like specialist advice on how to protect your assets and finances from potential separation, please get in touch and our experts would be happy to assist you.