In days gone by, couples married for life and grew old together. But the Office for National Statistics has released figures showing that the number of people over 60 issuing divorce proceedings has nearly doubled over the past ten years with 117,558 married couples finalising their separations.
Even though overall divorce rates are falling, ‘Silver Separators’ are bucking the trend redefining their lives at a much older age, re-evaluating their relationships and deciding to start all over again – realising that there is in fact still time for new horizons and new perspectives.
Whatever your current circumstances are, the growing trend that has emerged in the last decade just highlights the sheer significance of updating your will.
If you get divorced or your civil partnership is dissolved, your will does not become invalid, but many of its provisions would no longer be effective if you pass away meaning that your ex would most probably still be the executor of your estate.
It’s easy to put off but protecting the assets that you have acquired over the years is perhaps an even greater concern for the over 60’s especially if you are nearing the end of your career, the family home is mortgage free and you or your spouse have been planning for the future with pensions.
It is recommended that you update your will at least every five years or after a major life event.