The office for National statistics reports that 9% of people aged over 65 were divorced in 2011 which is double the number divorced in 2001.
They warn that divorce in later years is especially damaging because “relationships are particularly important for older people as they are more likely to have lost people close to them and need daily assistance”.
There is no doubt that I have seen an increase in the number of over 65s getting divorced. I have a number of clients who have fallen in that age bracket who have either decided that their marriage has broken down irretrievably or have had that imposed upon them by their spouse who has made that decision.
First of all I think it is important that we remember that 65 is not old!
We are living longer and we are living better. Many people work into their 70s and still look forward to a long retirement.
There have been a number of suggestions as to why there is an increase in the over 65s divorcing. I personally think that, in the case of women, many of them feel that they are now more able to be financially independent and that the law, after a number of important decisions in the Family Courts over recent years, will ensure that they receive what they perceive to be a fair share of the assets accrued during the marriage not least of all, in fact and possibly most importantly, the pensions that have been amassed.
It has also been suggested that what we are seeing is the result of the fact that people generally marry later in life than they used to. Statistics show, for example, that in 2012 the average age of a bridegroom was 36.5 and a bride 34 which is 8 years older for both sexes than in 1972. If marriages, on average, are still lasting as long then there can be no surprise that divorces are more common amongst the over 65s.
I have on a number of occasions assisted clients who have thought long and hard about their marriage and, having waived their children off to University, have realised that they actually do not have anything in common with their spouse and they now, quite rightly, believe that they entitled to a happy future. People want to make the best of the time they have and are not willing to stay in a unhappy marriage for the sake of convention or for the sake of their adult children.
There are no particular or different laws that apply to more elderly divorcing couples. However, the financial impact upon them certainly can be more significant as they have less time and less opportunity to amass further assets or perhaps supplement their income in a way that a younger couple might have. Their asset pot is probably finite with both parties having retired and having no opportunity to add more wealth. The result is often that both parties have to take a hit as far as their standard of living and lifestyle is concerned. As with every divorcing couple the income and assets that provided a home and lifestyle for them jointly will then have to be divided to provide for 2 separate households and, in the vast majority of cases, both parties have to accept significant changes in their lifestyle.
As might be imagined pensions and pension income are often the focus of divorces amongst older clients. Often young clients, rightly or wrongly, are more heavily focused upon liquid capital assets and tend not to worry too much about their retirement which seems a long way off.
I really enjoy working with my older clients. I particularly enjoy hearing from them how they are rediscovering hobbies and interests that they had long since forgotten, making new friends, internet dating and finding love again.
Divorce is never easy whatever your age but with the right help and support from friends and family and good legal advice Divorce shouldn’t be the end of the world. For most people, even if it takes them a while to appreciate it, it is often the start of a whole new exciting chapter and I see no reason why that should be any different for the over 65s.
Maybe this is a good time to share my favourite Doctor Seuss quote “don’t cry because it’s over, smile because it happened”.
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