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April 29, 2021

The rise of the ‘Silver Splitters’ and Lockdown divorce

Victoria Bulgin

by

in Insights Lifestyle

A sad fact of the pressures of lockdown, is the higher number of couples facing the end of their relationships. This is increasing more in later life, than ever before, giving rise to the term ‘Silver Splitters’. For couples in this situation, there are different advisers who are best placed to assist in achieving a constructive solution.

  • Consider counselling – is the relationship really at an end, or is reconciliation possible?
  • Consider mediation – this is a beneficial and cost-effective way of resolving a dispute without going to court (check out Resolution)
  • Seek specialist advice – consider independent, specialist legal advice through a family lawyer

If separation is inevitable and even if this is on amicable terms, ensuring a fair split of assets is essential. Did you know that in some circumstances the pension could be of greater long-term value than the family home?

Be careful about simple offsetting – you take the house, you take the pension! Although please do not under-estimate the complexities of the pension and seek professional advice.

The decisions we make about our life affect the money we have. And the decisions we make about our money affect the life we have.