Essential steps when going through divorce

Posted on: 21 January 2015 by 50connect editorial

Divorce and separation among the UK's over 60s is on the increase but few are making the correct decisions when dividing assets. Read these essential tips!

Divorce in later life

While divorce rates among the general population have plateaued, the number of older couple calling time on their relationship is on the increase.

Among the over 60s, the divorce rate among men has increased by 73% from 1.6 divorces per 1,000 in 1991 to 2.3 per 1,000 in 2011.

Similar trends are reported in women aged 60+. Reasons suggested include an increased in life expectancy, reduced stigma surrounding divorce and greater financial independence among older women.

However, the fallout from a relationship breakdown has far reaching implications for couples who fail to consider how they are going to uncouple their finances, divide assets or even where they are going to live. Our friends at MoneyAdviceService have built an easy to follow divorce and separation guide, highlghting the steps you should consider if you are thinking of splitting up.   

Source: ONS, Relate

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