Silver Splitters: Once Bitten Twice Shy

There have been a growing number of divorces and separations amongst those in their 50s and 60’s often they are “empty nesters” whose children have left home or alternatively they are moving into retirement. The National Office of Statistics recently confirmed that although divorce rates are generally falling there are an increased number of older people who are now filing for a divorce.

Divorce

An increasing number of “silver splitters” as they are becoming known are also thinking carefully before they embark on a new relationship. Often it is those who have already been through a difficult and painful relationship break down who realise that unfortunately, it might happen again. They may wish to enter into a pre-nuptial or living together agreement to protect their interests if their relationship breaks down.

Although such agreements are not definitely legally binding in the event of any future separation any court dealing would take into account the contents of any agreement as strong evidence of a couples future intentions.

Whilst many people don’t like to think about splitting up at the start of a new relationship it could well be much cheaper to agree with your new partner what you would intend to happen if you separated rather than having long and acrimonious court proceedings which could end up costing a lot if you need to instruct a solicitor to act for you. The average cost of instructing a lawyer to draw up a pre-nuptial agreement is £500 to £1000 whereas an average divorce can cost anywhere between £5000 and £10000 to deal with all financial matters.

If you don’t have an agreement drawn up in advance and you can’t agree matters amicably with your ex-partner then you would have to go to court and let a judge decide what will happen in respect of any joint assets which could you leave with an unexpected outcome.

If you would like any further information please contact either Ashwin Topiwala on 0116 2628596 or ashwin.topiwala@dodds-solicitors.co.uk in respect of Pre-Nuptial Agreements (for those who are intending to get married) or Sarah Spence on 01162628596 or sarah.spence@dodds-solicitors.co.uk in respect of Living Together Agreements