Key Considerations In Long-Term Marriage Divorces

Recent years have shown a steady increase in the number of divorces among people over the age of 60. There are key considerations to bear in mind when advising clients who have been married for a long time.

Whilst these clients may not have to worry about caring for young children, they are often more pre-occupied by the sharing of assets, such as a mortgage free property and pensions.

There can often be some difficulty in ensuring that both parties have a full and clear picture of their financial position as it is not uncommon for one party in a marriage to take the primary role in managing the marital finances.

Long-Term Marriage Divorces

The divorce process is the same as for any married couple but often expert advice from pension advisers, estate agents, accountants and independent financial advisers may be helpful at any early stage. Such advice is often useful to establish the extent of assets and liabilities available for distribution. Negotiations can then begin as to how to divide them.

Mediation

Both parties often find that mediation can be a way in which to engage in direct negotiation and reach a financial settlement. Mediators cannot legally advise a couple although they can enable them to develop proposals. Couples often consult their own solicitor at the same time in order to take legal advice. If couples are able to come to a consensus during mediation, this process usually benefits both parties without the pressure and expense of court proceedings.

Each case is treated on its own merits and for some there may be no alternative but to apply to the court to resolve the financial aspects of their divorce. The court process offers the benefit of a fixed timetable to move matters forward and at the same time encourages couples to reach their own financial agreement within this process.

Pre-Marital Agreements

There has also been an increase in the number of clients who are seeking advice into pre-marital agreements when they enter new relationships. Such agreements often prevent disputes arising after they are remarried. Whilst this may lead to difficult discussions, it helps protect their assets and families in the future.

Separation, divorce and the issues concerning breakdown in relationships are often emotional, complex and can take time to resolve. It is always advisable to consult a specialist family solicitor at the earliest opportunity in order to discuss these matters, take appropriate advice and necessary action. It is vital to choose a solicitor that you feel will provide you with the best level of service and support for you during these difficult times.