From Charles Saatchi and Nigella Lawson to Kris and Bruce Jenner, the divorce rate of people in their 60s has grown dramatically in the last 20 years. What’s the difference?
The divorce rate of people in their 60s or older – often referred to as “silver divorces” – has increased by 75% in the last 20 years.
The issues that divorcing couples in this age bracket face will often vary greatly from those affecting younger divorcing couples. For instance, there are less likely to be minor children whose needs would need to be considered and prioritised; one or both spouses may be retired and drawing a pension; one or both spouses may be living in a mortgage free property.
Couples in this age bracket who are divorcing will more often than not have lived together for many years and the Court will also consider that the parties to a long marriage have contributed equally to the assets of the marriage irrespective of who earned most or all of the money, who stayed at home and looked after the children.
The starting point in dividing capital assets and pensions will always be an equal division, though no two cases are the same, and there may be a good reason to give one party a larger share of the assets than the other. This could be because there could be an age gap between the parties and one or more of the parties may still be working past their retirement date.
It is often the case that there is an equal, or near equal, capital division that allows the parties to re house by down sizing but the parties pensions will also be a key issue.
Due to individual nature of any family break-up it is important to get specialist legal advice as soon as possible. Thereafter a sensible settlement can often be achieved perhaps with the assistance of a local family mediator or as result of arms length negotiation between solicitors or at a round table meeting.
It is of course imperative that anyone going through the divorce process fully understands their rights, and does not make any decision until they are satisfied that they have a complete picture of their and their spouses finances.
Pinney Talfourd has an experienced team of matrimonial solicitors who can advise and guide you through this process. Please contact us for a free initial appointment on 01708 229 444 for more information or visit the Family Law page to book an appointment.