Rise in divorce rates for older couples

There has been a recent and noticeable increase in divorce rates amongst the older generation. A recent report by the Office of National Statistics has revealed that divorce rates in older couples is the highest in almost 25 years, with an increase of 23% of men aged over 65 and 38% of women of the same age during the period spanning 2005 and 2015. These couples have earned the nickname “silver splitters”!

The research has attributed ever greater life expectancies, and children flying the nest leaving couples concluding that they do not wish to spend their retirement together, as factors leading to such an increase.  Now that we are having to work longer before retiring, couples are now often more financially independent, and the stigma which was attached to a divorce previously, is no more.

Divorce in later years would generally result in the ending of what would be regarded as a lengthy marriage, which means that the couple may well have accumulated numerous financial assets during the course of the marriage, such as property/properties, savings and investments, not to mention potentially sizeable pensions. These would all be marital assets and would need to be considered during the course of divorce proceedings.

Carol Robinson is a solicitor in the Family department at Barker Gotelee Solicitors.

Ipswich Family Solicitors – for more information on our range of legal services, please call the team on 01473 611211 or email bg@barkergotelee.co.uk