Divorce – Increase for Couples in Their 50’s

by Kerry White on February 19, 2015

Kerry White

According to the Independent, trends in the UK over the last decade suggest a significant increase in the number of couples divorcing in their 50’s and indeed their 60’s. We should not be surprised to see a similar trend in Australia.

This may be due to the dreaded “mid life crisis” and a desire for change before it is “too late”. Or it might be due to a partner regretting their choice of spouse and deciding to make a change.

Whatever the reason, the effect can be financially devastating.

Couples in their 50’s and 60’s usually no longer have the responsibility of dependent children and may be considering their financial future upon retirement.

Spending tens of thousands of dollars on litigation to divide hard earned assets may not be the best way forward for either party. Often couples at this stage in their lives benefit from obtaining financial advice early during negotiations with a focus on maximising the pool of assets available for division in a tax effective way.

If you find yourself in this position please contact us at Armstrong Legal as we can assist guide you through the process including recommending non-legal experts who may be able to contribute to the settlement process in a way that is aimed at avoiding litigation.

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