Month: September 2013

Silver Divorces

The percentage of people over the age of 60 seeking divorces has risen steadily since the 90’s according to the latest divorce statistics.

This is in stark contrast to the number of people overall who are filing for divorce, which has fallen year after year. One possible reason for this is the number of over 60’s now in our society. Other possible reasons are the ease with which people can get divorced compared with that in the 70’s and 80’s, with divorces rising sharply when the Divorce Reform Act came into effect in 1971.

In 2011, 9,500 men aged 60 or over divorced, a 71% increase in comparison to 1991. The level in men’s divorces over 60 is higher than that of women, as men tend to be the older party in relationships. Also because the life expectancy of men in England and Wales has risen, and divorce is much less of a taboo that it used to be.

Another interesting explanation could be due to the number of women in the jobs market compared to the 70’s. The employment rate of women rose by 13% from 1971 to 2012, meaning that women are now much more financially independent and capable of supporting themselves outside of marriage.

Child Maintenance for University Fees?

More and more parents are seeking advice as to whether they can claim for child support to help get their children into higher education. Tuition fees have risen dramatically over the last few years, and single parents in particular are finding it difficult to access the funds required to send their children to university.

It is a common misconception that parents are not able to apply for child support payments beyond secondary education. But this is not always the case. As long as your child stays in full time education, you may be entitled to claim maintenance for an extended period.

You would have to apply to the courts to get the terms of a child maintenance agreement changed, and this may incur costs which may be off-putting, but it is possible to  at least ask for this extra support. The courts will listen to any case that has a strong argument for financial support beyond the original agreement, regardless of the availability of student loans.

Marriage and Children???

A recent report has shown that a rising number of your people are much less concerned about getting married before they have children than they used to be. A staggering 54% of those questioned said that they planned to start a family before getting married.

The research carried out by Santander Insurance also found that only 45% of them thought that they would own their own home before entering into parenthood, with even less expecting to have a secure career.

The reasons for such attitudes have been put down to the rise in the cost of living. Young people simply do not have the funds to get married, or to save a deposit for a house, but seem determined not to let that put their lives on hold. Contributing to a pension, or putting money into savings is also a rarity for young people in the current financial climate.

Richard Al-Dabbagh, of Santander Insurance, said: “Parents are increasingly prioritising having a child over other aspects of life such as home ownership and marriage.

“The financial commitments involved with all of these things are significant and against a backdrop of squeezed incomes it’s simply not possible for every family to tick every box. “However, having some form of financial contingency is vital.”