Divorce rates have been falling consistently for several years now. The latest ONS statistics available show that in 2023, there were 102,678 and 1138 dissolutions divorces granted in England and Wales, an increase since 2020 when rates had dropped to around 80,000.
One demographic that has seen a rise though is older couples. This is due to a rise in the number of Over 60s, sometimes known as the “silver separators”, or “silver splitters”.
The Over 60s age group still represents a small proportion of overall divorce statistics, but it has doubled since 1993.
Though marriage rates are falling generally marriage for the over 60’s marriage is on the increase. According to the ONS between 2004 and 2014 around 1000 women per year over 65 married compared to between 4000 and 6000 men a year getting married.
From my experience divorce amongst the older generation is not often due to hostility between the parties. With children having left the nest it is often more a case that the marriage has come to a gradual conclusion rather than a sudden end.
This presents fresh considerations on divorce and re-marriage.
On divorce, issues such as pensions are more likely to be an issue, especially where one person has accrued a larger pension than the other. It is likely that you need to get a report prepared by a pensions expert on how to divide the pension.
On remarriage, one party might be bringing significant assets into the marriage and they may want to protect themselves, and their children, from the risk of losing out. Prenuptial agreements therefore need to be considered.
It is often wise to have a prenuptial or postnuptial agreement to protect wealth, and perhaps consider the creation of a discretionary trust fund to ensure that the children of the previous relationship are provided for.
It is always important to have an up to date, valid will. Whilst divorce invalidates any gift to your former spouse and their appointment as executor, remarriage will make the will fail completely and there is therefore a risk that assets will pass in a way that was unintended.
Taxation implications should be considered carefully when making a will or creating a trust.
It is also wise to provide for the possible loss of capacity to make decisions in the future, by creating a power of attorney.
Our specialist lawyers at Lawson West can advise you every step of the way. We work together as a team across the specialisms to achieve the best outcome for you, tailored to your own unique circumstances.
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This article: Created by AI and checked by a qualified solicitor.
