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What were the Divorce Trends in 2017?

The Office of National Statistics last week published the 2017 divorce statistics which showed a decrease of 4.9% with 101,669 divorces of opposite sex couples compared with the 2016 figures. There was, however, a significant increase in divorces of same sex couples in 2017, more than three times the number than in 2016, three-quarters of the same sex couples divorcing in 2017 being female. Overall the number of divorces in 2017 was highest among both men and women in the 45-49 age group.

With a higher divorce rate for people in their mid to late 40’s there are often more financial matters which need to be considered, in particular pension issues which can be quite complex. Depending upon the value of the pension benefits, it may well be necessary to obtain a report from a Pension Actuary. An Actuary can help to determine the correct values of a couple’s pensions and to set out what would be required for example for each party to receive the same income in retirement. If the couple are of differing ages, this can involve quite complicated calculations.

Lynne Barton, Family Law Specialist said ‘’It is essential when a couple are getting divorced that they know approximately how much they will receive by way of pension income when they reach retirement age. If one spouse has paid a lower sum into their pensions, for example if they worked part-time for any periods during a marriage, this will have affected their pension values. It also could have an impact in relation to the National Insurance contributions so far as their entitlement to a State Pension is concerned. There are also the tax considerations which have to be taken into account. It is therefore essential that the right advice is obtained as a couple plan for their future including their retirement. They may not have too many years left to pay in to pensions before they retire ‘’.

When couples get divorced at any age, Wills are something that they need to change and this can often be triggered by a decision as to whether or not they wish to, what is known as sever the joint tenancy if any property is held as joint tenants. This enables them to specify who they would want to benefit from their share of the property whilst they discuss how they to deal with the distribution of their assets. Divorce inevitably creates potential further issues of Inheritance Tax and therefore advice is needed in relation to such matters.

Should you require any further details in relation to any matrimonial problems or financial issues, please contact:

Lynne Barton on 01202 294411
Lansdowne office, Kingsway House, 13 Christchurch Road, Bournemouth, Dorset, BH1 3JY,

Please E-Mail: lynne.barton@absolicitors.com for a fixed fee appointment.

If you would like more information about making a will, please call one of our trusted and experienced Wills, Trust & Probate solicitors based at our Bournemouth and Christchurch offices:

Clare Lawson on 01202 527008
Moordown office, 912 Wimborne Road, Bournemouth, Dorset, BH9 2DJ

Lloyd Thomas on 01202 294411
Lansdowne office – Kingsway House, 13 Christchurch Road, Bournemouth, Dorset, BH1 3JY

Andrew Lilley on 01425 282150
Highcliffe office – 277 Lymington Road, Highcliffe, Dorset, BH23 5EB

This is not legal advice; it is intended to provide information of general interest about current legal issues.

Registered Office: 13 Christchurch Road Bournemouth BH1 3JY. Authorised and Regulated by the Solicitors Regulation Authority. Aldridge Brownlee Solicitors LLP is a limited liability partnership registered in England number OC334502

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