Divorce Rate at Lowest Level in 40 Years

20/12/2016

Figures recently released by the Office of National Statistics show that the number of divorces has decreased to its lowest level in 40 years.

It’s believed the reasons behind the figures are that couples are increasingly choosing to live together rather than get married. Those who are getting married are leaving it longer before they tie the knot.

In 2014 there were 111,169 divorces granted in England and Wales, down 3.1% on 2013 and a decline of more than 25% from the most recent peak in 2003. Overall, the divorce rates per thousand married men and women fell 9.3%, the lowest level since 1974. All age groups accounted for the fall in divorces, with the exception of women aged 55 and over.

Despite the encouraging figures, as more couples choose to cohabit, it’s important for people to think about setting up a legal agreement to protect both parties in the event of the relationship breaking down.

While some couples are able to settle things amicably when they split, unmarried couples have far less protection than their married counterparts. The lines of who gets what are becoming increasingly blurred and if not sorted out could end up in court – a situation neither side is likely to want and an expense both could do without.

A cohabitation agreement is a legal document which specifies how assets and any equity in a property will be divided should couples decide to go their separate ways. Its purpose is to avoid adding further stress to an already stressful situation. So, if you’re thinking of taking the plunge, call us on 01204 399 299 for an informal chat about setting one up.