Soaring divorce rates for over-60s could leave pension pots dangerously depleted, a Coventry law firm has warned.
A growing number of older couples are opting to split after long marriages and the post-Christmas surge in divorce enquiries is expected to be high among the older generation in 2010.
However, separations after such long-marriages are often complicated and both partners can be left with financial heartache, Tracy Cross of Band Hatton said.
“Few couples take life-changing decisions lightly, but stressful times of year can push people over the edge and can speed up their actions despite not having taken advice,” Ms Cross said.
“Over-60s tend to have been in long relationships and therefore have big estates, complicated pension funds and less working years to build up assets again.
“Also, asset value has reduced for many during the last 12 months and so it’s important that both individuals carefully consider their options.
“Divorce is stressful at any period of life, but having to consider pensions, retirement, and things such as potential health care costs add an extra layer of strain.
“The advice our firm would offer is for people to come and see one of our specialists because this type of issue needs an experienced professional to resolve in the right way, which sees both parties looked after.”
The latest divorce figures for England and Wales are due out in January, and are expected to show another significant rise in over-60 break-ups.
For more information, contact Band Hatton on 02476 632121 or visit www.bandhatton.co.uk.
ENDS
Media enquiries:
Dan Donovan
Advent Communications
2 Edison Building
Electric Wharf
Sandy Lane
Coventry CV1 4JA
Tel: 024 7663 3636
http://www.advent-
