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Divorce rate soars among over-50s
Tue 23 Feb 2010
A growing number of married couples aged over 50 are choosing to get divorced, official figures have revealed.
According to a report from the Department for Work and Pensions (DWP), the divorce rate among this demographic has gone up by a fifth in the last decade.
This is despite a 16 per cent drop in the overall divorce rate during the same period.
The report attributed this partly to the fact that a couple's children are likely to have left home by the time they are in their 50s.
As a result, women who are required to spend more time with their partner end up realising that they want something different in life.
The DWP report also showed that this trend has led to more women aged over 50 having to manage their own finances, as money matters had typically been looked after by their husband prior to the divorce.
This comes after the Office for National Statistics reported that marriage rates in 2008 were at their lowest since they were first calculated in 1862.
Carol Ellinas, a partner at Winckworth Sherwood Solicitors, commented: "We are definitely seeing an increase in the number of divorcing couples who have reached their middle years.
"They may have been married 30 or 40 years and have accumulated very significant assets over the course of the marriage including large pension pots and inheritances from their parents.
"There may be a family business which one party is thinking of selling or passing on to the next generation.
"It is essential that the parties obtain specialist legal advice before taking any steps such as selling the family home or taking a lump sum from a pension scheme."
