According to the Office for National Statistics, couples splitting in their sixties is on the rise. The so called ‘grey divorces’ have increased by 75% in the past twenty years.
One cause identified is that adults are living longer and don’t want to stay in an unhappy marriage when they have many more years of good health. Sixty-five to seventy is no longer seen as old age with more adults of mature years taking greater care of their health and well-being.
Many older couples have generated wealth during the marital years. The rise in the value of the family home over many years coupled with increased pension provision can make separation more affordable. Others are working for longer but in a more balanced way that gives them financial support and independence but also the freedom to spend their income on social occasions and holidays.
More women are returning to work after childbirth and are no longer so dependant on their husbands for future income and wealth. Women have become more confident in their own financial independence and their life choices
Many couples wait until the children are grown up and have become self-sufficient before they separate. However, a bitter breakup can lead to awkward situations at family gatherings.
A growing percentage of silver splitters are couples who have been married before and they are going through separation and divorce for a second time. It is reported that people who have been divorced are two and a half times more likely to go through it again.
The approach to settlement for couples separating after a long marriage with grown up children is to apply the sharing principle and split their assets down the middle. Pensions are usually shared to achieve equal incomes in retirement. Their housing needs will be treated as the same or similar.
If you are considering a separation and you are uncertain about how to approach it or what you will be entitled to, Townsend Family Law have a team of qualified Solicitors here to help you.
