Thackray Williams

Indeed, the divorce rate is currently at its lowest level since 2000, save in one unexpected age group: the over 60s. Surprisingly divorce among the over 60’s is on the increase.

If you are in this age group and are contemplating a divorce then there are a number of factors that need to be considered.

The main asset will normally be the matrimonial home and in divorces for the over 60s, this property is often mortgage free. However, with the increase in property prices it can still be difficult for both the husband and the wife to adequately re-house following the sale of the matrimonial home. Obtaining a mortgage will be difficult for those over 60, particularly where there is no income from employment and any mortgage that is obtained will be for a limited time period (never exceeding the mortgagees 70th birthday).

The pension is also a significant issue when older people separate. Interestingly many of those who are reliant on state pension, are considerably better off if they divorce as a non working wife whose pension has been assessed on her husband’s contribution will get 60% of his entitlement to the full pension, but if they subsequently divorce her pension will be topped up to match his.

However, private pension schemes are different and if the marriage breaks down, consideration has to be given to there being some form of pension sharing.

For the over 60s the marriage is likely to be a lengthy one. The landmark case White v White in October 2002, introduced a new touchstone of fairness when it was decided that there should be no discrimination between the work involved in being a homemaker and the financial contribution of the breadwinner and as result a 50/50 clean break division of assets is becoming increasingly common. This of course, takes into consideration any pensions, which the husband will have built up during the marriage.

Another issue, surprisingly, is children as sometimes divorces for the over 60s can be even more acrimonious than those between younger couples, due to family politics and the fact that both the husband and the wife will often try to recruit now adult offspring to their side. It is also important to note that any Will made prior to a divorce will be invalid after divorce.

The decision to decide to divorce is a very difficult one to make irrespective of age and should not be taken without careful consideration of all the consequences both financial and emotional.

Keith Doherty is a solicitor at Thackray Williams Solicitors in Bromley. He can be contacted on 0208 290 0440 or by email keith.doherty@thackraywilliams.com