A recent study has revealed that divorcing Britons over the age of 50 are facing an increasing number of potentially avoidable financial pressures.
Statistics released by Saga Personal Financial unveiled that over one quarter of over-50s find themselves selling their family home, 13 per cent end up downsizing and eight per cent are forced to move into rented accommodation, following a divorce.
The study highlights the importance of seeking specialist advice to retain assets and financial stability under difficult divorce circumstances.
The research, which questioned a sample of 230 people across the UK, revealed that 58 per cent of people felt that their break-up had left them worse off, and that a large percentage of people were left ‘struggling financially’ following their divorce.
A separate survey said that middle-aged parents across the country are being left with ‘thousands of pounds of debt’ following a split.
Andrew Baddeley-Chappell, of Nationwide Building Society, said: “Keeping on top of finances and seeking appropriate advice before, during and after divorce can help to minimise some of the stress of the process”.
Carter Lemon Camerons LLP Solicitors is a City law firm which provides legal services with a personal touch to both commercial and private clients. Unlike many City practices we are happy to act in smaller private legal matters, bringing the same care and consideration as we do to large commercial matters. For more information about our divorce services please contact Chris Corney or telephone: 020 7406 1000.