Marital Breakdown in later life Solicitors Ireland

Separation later in life

In the UK and the States, a separation or divorce of partners later in their lives, often after many years of marriage, is sometimes called a ‘silver splitter’ or ‘grey divorce’.

The term exists because until recently, it was relatively rare for older married couples to divorce. Now of course, this is not at all uncommon. Many couples financially could not afford to separate, may have felt held back because of the views of older relatives and societial pulls that are no longer there, or may simply have been satisfied with the status quo. It is also much harder to move on from twenty years of marriage than from two, especially when or if a couple shared good times and happy memories or significant family ties or financial ties and obligations.

Interestingly UK figures show that over 60’s divorces are on the rise in comparsion to other age groups, but not only has this age group increased in divorce statistics, but the number of people over age 65 getting married has increased by 46% between 2004 and 2014.

There is also the fact that people are living longer, and with longer lifespans, there are more opportunities for more significant life events.

For those looking to divorce in a later stage of life, you may have a more complex financial situation to consider because you have been married for many years, during which assets have been acquired and built up over a long period of time. Older divorcees can face far more complicated financial affairs than younger couples as they may have more to untangle between them.

By the same token this can make reaching a settlement easier to achieve if there are no mortgages or dependants to consider.

Our Partners at Carmody Moran Solicitors have significant experience of dealing with such situations and have advised people in a varied of situations, such as

• Where the division of a family home that is close to being or is mortgage-free
• Divorce on the cusp of retirement and reviewing pensions and resolving pension splits
• Advising on pension sharing arrangements
• How to approach re-housing when your mortgage capacity is reduced or past
• A revaluation of your plans to retire and what that will look like going forward
• Options for your pension and how address this often significant asset
• Income disparity between you and your spouse, for example, if one of you adjusted their working life to accommodate greater care of the children
• Cost of future care, your Will and inheritance planning

The same separation and divorce processes apply regardless of the length of the marriage or your age, although the considerations you have may be different. Our solicitors are highly experienced in family law and the complexities of various financial assets and pension vehicles, and are well placed to advise you on your situation as you assess and navigate this process.

At Carmody Moran Solicitors in Dublin City Centre we know that in addition to having your case handled by experienced professionals with the highest level of expertise and sensitivity, that cost is a serious factor, as well as the value of expert and early legal advice. That is why you can arrange to have an Initial Consultation in family law matters at a reduced rate and this gives you an opportunity to review your situation and ask the expert questions regarding your specific circumstances.

In the course of this one-hour consultation with an experienced qualified family law Solicitor, your initial options will be assessed and advised upon as well as practical advice furnished to try to assist and alleviate your current situation. Your Solicitor will be able to advise you of your options and future costs and you can then decide how you wish to proceed.

Considerations when preparing for a Divorce in later life

Before any kind of legal planning occurs, you must consider what your future life will look like. This kind of planning is necessary no matter your age. You may need to think about will living standards be able to be maintained at the same level following a division of assets, and other matters such as:

• Where will you live?
• When do you wish to retire?
• What income will you need to meet your needs?
• Would you consider keeping a large share of your pension in return for less of the property or vice versa?

It can be useful to consider what you hope to achieve as you make an appointment for legal advice. If all of this seems overwhelming, not to worry. With legal advice, information on your rights and entitlements, and with the expert support and guidance, you will soon be well placed to make these decisions.

Getting advice at the earliest stage can be hugely beneficial. Having a conversation with our specialist divorce lawyers will help you understand your rights, where you stand and what you need to do, and what final resolution may look like.

Our leading Dublin divorce lawyers are well-renowned specialists who provide expert family advice in all areas of Family Law including litigation and settlements (whether by lawyer driven negotiation and settlement or direct settlement or mediation).

How do pensions get split in a Divorce?

Pensions are a significant asset that mature divorcing couples must address. Being fully informed is important in making decisions, pensions can be complex and you should seek legal advice to protect your entitlement to your pension or that of your partner.

There are many types of pensions with different benefits (such as lump sum benefits, retirement benefits, contingent benefits, such as death in service benefits, and death in retirement benefits), and a variety of terms to be considered. Some private pensions and public service pensions, and civil service pensions, can have very valuable benefits attached for not just the pension holder but their spouses too.

Pensions can be ear marked or split and dealt with by specific Court Order known as a Pension Adjustment Order.

It is important not to overlook the state pension. The basic state pension cannot be split or shared on divorce.

This may all seem confusing, which is understandable. It is often sensible to invest in independent financial advice and a pension report by an actuary. The report can consider all pensions (including the state pension) and advise on the best options for sharing or offsetting your pension, enabling you to make decisions that best protect your retirement income and plans. Carmody Moran Solicitors work closely with a number of experts in this area to ensure you have the best available advice to you in making decisions regarding what can be a very valuable and significant asset often overlooked.

Agreeing an over 60s Divorce

There are several ways to reach an agreement over financial issues when getting a grey divorce.

You may be able to agree on the terms with each other, or with a mediator, or your divorce lawyer can forward proposals and negotiate on your behalf.

If an agreement cannot be reached for whatever reason, you may have to make an application to the court who will decide for you both. More information is available on our website regarding your options to avoid contentious Court proceedings.

At Carmody Moran Solicitors in Dublin City Centre we know that in addition to having your case handled by experienced professionals with the highest level of expertise and sensitivity, that cost is a serious factor, as well as the value of expert and early legal advice. That is why you can arrange to have an initial Consultation in family law matters for a reduced fee and this gives you an opportunity to review your situation and ask the expert questions regarding your specific circumstances.

In the course of this one-hour consultation with an experienced qualified family law Solicitor, your initial options will be assessed and advised upon as well as practical advice furnished to try to assist and alleviate your current situation. Your Solicitor will be able to advise you of your options and future costs and you can then decide how you wish to proceed.

Call the office in 27 Mount Street Upper on 00-353-1-8272888 to make an appointment to meet and discuss with our divorce solicitors Ireland or use the quick enquiry form here.