There has been a trend in the last decade of divorce rates for the over 65’s increasing, leading to a new category of divorcees commonly referred to as “silver splitters”.

Whether someone is aged 20 or over 65, or anywhere in between, the process for divorce is the same.

Getting divorced later in life can, however, bring its own particular issues.

The family home

The family home may well be mortgage free and, having lived there for a significant period of time, may carry more emotional weight for the parties.  This is a factor that, strictly speaking, will not be taken into consideration under the Law. The financial significance of the property will the primary focus.

Generally speaking, in looking at dividing the assets on divorce, the usual rule is that the family home is divided equally between the parties. It is likely that the family home will need to be sold and the proceeds divided. How each of the parties will be re-housed can then become an issue. It is quite likely that neither party will be able to raise a significant mortgage and this could prove to be an added complication in resolving the issue of re-housing the parties.

Pensions

It is probable that one or both of the parties will have built up pension provision, which could be substantial. Pensions can still be divided between the parties where they are both older.  Even if a pension is in payment, it can be divided under a Pension Sharing Order. Where both parties are older, any pensions are likely to be divided having regard to their income value, as opposed to their capital value, to seek to ensure that there is equality of income in retirement for both parties going forward.

Generally speaking, pensions of younger people (especially those pensions which are defined benefit pensions) are divided on the basis of capital value, as opposed to income value. Given that pension assets can be of significant value and effect, if both parties are older it is likely to be the case that a report will be required from a Pension On Divorce Expert (PODE) with recommendations as to how any pension assets should be divided and on what basis.

Estate Planning

It is quite likely, if there are children of the family, they will now be adults and perhaps have children of their own.  It would therefore be prudent for older divorcees to take financial and legal advice considering estate planning, to take into account what will happen to their estates on death, how their assets will pass down to children and grandchildren, and any possible inheritance tax effects.

By divorcing, the couple will lose the Inheritance Tax Spouse Exemption, where assets can pass from one spouse to another without there being any Inheritance Tax charge. It is essential to review any existing Wills, in light of the divorce.  A divorce does not automatically revoke a Will, however it will effectively revoke the appointment of the ex-spouse as Executer in the Will and any gift to that ex-spouse, as the Law assumes the same treatment as if the ex-spouse has died.  The rest of the Will, however, would remain effective.

Health and Insurance

The health of either or both of the parties may have significance in any financial settlement on divorce. For example, do the health needs of one of the parties mean that they will need greater financial provision in the future.

The terms of any existing health insurance policies will have to be considered – who will continue to pay the premiums?

Spousal Maintenance

Adjusting to separated lives may mean issues of spousal maintenance will arise.  Whilst a financial clean break is desirable, it is not always possible.  The Courts do encourage a transition to financial independence, so maintenance may be determined as being payable for a defined period.  Each situation will, of course, turn on its own circumstances.

Are there alternatives to divorce?

Yes, the parties do not have to divorce and there may be financial advantages not to do so.  The couple can have a legal Separation Agreement, which provides that they live apart and sets out the financial circumstances of their separation. This will mean that the marriage continues, as there may be advantages from the point of view of pensions and tax benefits.   For example, the couple would still retain the Married Couple’s Allowance for tax purposes.

Written by Simon Brown

29 October 2025

Due to the many issues and complexities to consider when getting divorced later in life, we would suggest that it is very important to get independent and professional legal advice and Elaine Parkes Solicitors are here to assist.

Contact us now.