The most recent ONS data on marriage and divorce revealed a fact as divorce lawyers we are all too aware of - divorce is on the up, and the increase is being driven by a rise in divorce amongst older people. Whilst the increase in overall divorce rates might be small we have observed over a number of years the rise in divorce amongst older couples. An inevitable rise you might say as divorce has become more socially accepted and changes in lifestyles and opportunities mean couples feel less obliged to stay together in an unhappy marriage.
When you have a lot of assets, you could have a lot to lose in divorce.
It can be relatively straightforward to divide assets in most divorces, as these are often limited to one property, bank accounts and pensions. However, if you are a wealthy couple, possessions can extend to include things like multiple properties, luxury yachts, substantial investments, art collections and more.
As more people enter civil partnerships and same sex marriages it’s an unfortunate fact of life that more of these relationships are also ending in divorce, or dissolution as it’s known. Between 2012 and 2014 there was a 20% increase in the number of civil partnership dissolutions.
Divorce and separation amongst the rich and famous is always in the news. We all remember the ‘conscious uncoupling’ of Gwyneth Paltrow and Chris Martin. Not to mention the love, admiration and respect Antonio Banderas and Melanie Griffith still had for each other after they parted company.
The annual YouGov Family Law Survey was released earlier this month reporting facts and figures about divorce and dissolutions in the UK. Exploring the opinions and experiences of almost 1,000 people who’ve been through divorce it is essential reading for a firm like Woolley & Co. But does it tell us anything we don’t already know?