There has been an increase in couples choosing to divorce later in life. The Office of National Statistics has reported that divorce rates among older couples are the highest in almost 25 years. Further, the number of men divorcing aged 65 and over has increased by 23% and for women of the same age range by 38%, between 2005 and 2015.
There are many factors which can be said to have contributed to this increased trend for the so-called “silver-splitters”. People now have a greater life expectancy than ever before and, in some cases, once the children leave home, couples come to the realisation that they do not wish to stay together through their retirement. Couples are now often working for longer before retiring and are often more financially independent. Also, the previous stigma surrounding divorce is no longer as prevalent as it was in the past.
However, when couples are older and have been married for many years, this often means that parties have accumulated many financial assets during the course of the marriage, including properties, savings and investments. Moreover, a couple may be nearing retirement or have already reached retirement age. Therefore, the pensions can be very sizeable assets by this point, having been built up for many years and need to be dealt with as part of the finances following a divorce.
At Paul Robinson Solicitors, our expert team of family lawyers can provide you with specialist legal advice and guide you through this process. We offer an initial fixed fee consultation to enable you to assess your options and the next steps. If you would like to make an appointment with a member of our specialist team, please call 01702 338338. Please note that we are able to offer appointments at our Westcliff, Benfleet, Billericay and Stratford offices for your convenience.