Marriage and Divorce in Equal Measure for the Over 65s

05/09/2017

Figures released by the Office of National Statistics have revealed that the number of people aged 65 and over getting married had increased by 46% in the decade from 2004 to 2014.

Data shows that in 2004, 7,468 marriages in this age group were recorded, while in 2014 the figure was up to 10,937. The figures also indicated that, in 2014, a whopping 92% of these people were divorcees, widows or widowers, leaving just 8% getting married for the first time.

It’s believed that the rise in the number of “silver splicers” is due to a combination of the post-war baby boomers and people generally living longer. In fact, the number of people aged over 65 has increased by 20% in the same period.

In contrast, despite a 28% decline in general divorce rates between 2005 and 2015, older people are bucking the trend. In the same period, divorces involving men over 65 went up by 23% and those of women, by 38%.

Again, it’s believed the increase in “silver separators” is down to people living longer. In 2004, an average 65-year-old man could expect to live for a further 17 years and a woman for a further 20 years. In 2017, this has risen to 19 years for a man and almost 22 years for a woman.

The consequences of all this means that whether you’re getting married or simply living with each other, the assets you build up could be substantial. As such, it’s important to consider getting a pre-nuptial or cohabitation agreement drawn up. It may not be particularly romantic, but it will help avoid any potential conflict should the relationship break down in the future.