It has been reported that divorce rates amongst the over 60’s are increasing faster than in any other age range. Quite a shocking thought when you consider the great wealth of life that the couple may have shared by that stage.
However, others may argue is it really that surprising given the technological and social advances in almost every other walk of life over the past 50 years? Why should couples remain together in their retirement, when arguably they no longer need to, if they are unhappy?
Today, people reaching retirement age are generally younger, fitter, wealthier and more independent than ever before. Add to this the fact that we are living longer and the future before them may not look the same as it used to. This is why increasing amounts of people are re-evaluating what they want from their lives, often once the children have grown up and moved on. It is after all likely to be at least another 20 – 30 years.
However it is a sad reality that, quite possibly after some 40 years together, the couple may decide to part ways and divide their lives. This can often be difficult not only for those involved, but also their wider family members, particularly if one party does not feel the same.
While the issues that the court will consider remain the same as with any separating couple, greater consideration will inevitably be given to there being sufficient retirement capital to re-house both parties, preferably mortgage free, and sufficient income to ensure they are able to afford a similar, if not the same, lifestyle.
If you require further advice, or would like to discuss your position, please do not hesitate to contact the family team.
