Statistics show that more people are now getting divorced in their 50's than ever before. What is the reason for this? Is "no-fault divorce" going to make it easier and increase the number of divorces in all age groups?
Previously the biggest increase in age groups for a divorce were those at retirement age. This was linked to a greater life expectancy and people not being prepared to put up with unhappy marriages especially if couples were then looking at having to spend more time together when retired. However, married couples are now looking at the 50-60 age bracket as the time for reflection and bringing a marriage to an end.
When a couple are younger it is often financially very difficult to split. When a couple are in their 50's or older their assets are likely to be greater and they are more likely to be in a position to be able to both make a fresh start. Also children may well have grown up by this time reducing the complications and financial responsibilities. When people retire, they are likely to have a fixed income which may make financial settlements more difficult to achieve whereas in their 50's there is still the opportunity to rebuild with pre-retirement income and acquisition of assets.
With the inception of "no-fault divorce" obtaining a divorce can now be far less acrimonious. Time will tell whether the number of divorces increase or there are further changes in the ages at which people have a divorce. Even with no-fault divorce there is no guarantee of being able to amicably deal with finances and the current Court system does not help with that despite encouragement on trying to reach an agreement on finances rather than Court action being necessary. It is now more important than ever for advice to be taken from a Solicitor qualified in this area to ensure that any financial settlement on divorce is fair.
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