Divorce amongst the over 50s are on the increase, with an increase of 8.7% in the 50-59 age group and 8.9% in the 60+ age group  

The West Midlands is amongst the areas of Britain with the highest proportion of over 50s divorcees, along with Scotland and the South East.

 

The triggers can be anything from the children leaving home, to a family crisis or a sudden realisation that the couple has nothing in common.  This combined with the fact that women are generally able to have greater financial independence by returning to work after raising a family means that more women are in a position to initiate divorce proceedings.

 

Divorce and sorting out a financial settlement for the over 50s can sometimes be much more complex than for younger couples who have less invested in their relationship.

 

Divorce and family lawyer Carol Whereat of Woolley & Co advises older people contemplating divorce to consider the following before making any decisions.

 

A pension can often be one of the largest matrimonial assets of a long marriage.  If a husband has been the main breadwinner in the family and is a member of an occupational pension scheme, or even been contributing to a private scheme, or both, he is likely to have built up a considerable fund.  The over 50’s wife, however, may not have worked for several years and may have been paying the lowest rate of National Insurance contributions.  This means that she may not even have sufficient National Insurance contributions to claim a State Pension in her own right but will have to rely on the contributions of her husband.  The same applies if the wife has been the major breadwinner and has built up her pension and the husband has little or none.

 

At this stage in their lives, the matrimonial home is likely to be mortgage-free and in the present housing market another large matrimonial asset.  This means that there is more to divide but it is often the case that there are insufficient funds to purchase properties for both husband and wife.  It can be difficult at this stage in their lives for either party to obtain a mortgage and if either the husband or  wife is not working then it is important that he/ she is able to purchase a property mortgage-free. 

 

Where the parties are younger and there are dependent children, the needs of those children have to be given first priority in any divorce settlement whereas once the children have flown the nest, the usual division of property is on an equal basis which may cause some inequality.  It is important that legal advice is sought at this stage in case there are specific issues which need to be taken into account when considering a divorce settlement.  These issues can be such things as earning capacity and any special needs either party may have.

 

For older couples there may be a large difference in the earning capacity of husband and wife.  On separation or divorce, therefore, the lowest earner may have difficulties in making ends meet and the question of maintenance may have to be addressed.  Even in the higher income group the standard of living enjoyed whilst a couple are together has a bearing on how much maintenance they should receive.  This can be a very complex area and it is important that legal advice is obtained by both parties.