Business & Legal | 17
1990 was a landmark year for Leonard Mair of Morton Fraser‘s Family Law team, as he represented both his youngest and oldest divorcing clients. Here, he discusses if you can ever really be too old to get divorced…
“My oldest divorcing client was a lovely gentleman of eighty five who said he could no longer resign himself to tolerating his wife’s perpetual nagging and who wanted his remaining few years to be peaceful (albeit in potential poverty). He was clear that he didn’t want just to separate: he wanted to be divorced so that he would be entirely in control of his own financial affairs – including, specifically, the distribution of his estate on his death.
This case is, however, uncommon. Elderly couples who find themselves locked in a failed marriage will often find a way of co-exisitng that more or less works for them both, in preference to pursuing a divorce. However, there are pros and cons.
One of the legal consequences arising from marriage is the entitlement of the surviving spouse to a measure of support from the deceased’s estate. If an elderly spouse does not want their spouse to benefit from their estate on death, they need to get specialist advice about how best to organise their affairs to achieve that objective. The Morton Fraser Private Client department is an excellent starting point for that journey. Arrangements can sometimes be made to ensure that the next generation receives the bulk of the estate, and at least in that way retain some measure of control over what eventually happens to family wealth.
By contrast, on divorce, both parties are entitled to a fair share of the matrimonial property. However, once that split has taken place, neither party has any control over what the other may do with their share. This can be important when there’s concern over the spending habits, testamentary intentions or personal relationships of the other spouse! If a comfortably well-off widow wants to spend her sunset years going on exotic cruises to find a new husband and spend the family fortune doing so (contrary to the preferences of the deceased) there isn’t a great deal the next generation can do about it. There’s a tendency to assume that family wealth will automatically go down the line, but sometimes it can go sideways and then out of the family altogether.
The key thing is to review your affairs every few years and make strategic decisions on the back of that. Such a review should take account of your wishes on your death, whether you should be reviewing your Power of Attorney, your tax affairs, pension planning, and the all important question: ‘am I happily married?’ If you aren’t, there is still time to do something about it. This doesn’t necessarily mean rushing into the divorce court, but it does mean taking a long hard look at what you want out of life, taking advice and, if necessary, restructuring your affairs accordingly.
The reality is that divorce for the elderly does tend to be more challenging simply because the marriages are, in general, longer. However, fortunately life is not just about money: my elderly client enjoyed another five years of nag free life and was happy in the knowledge that he had done what he could to ensure a contented (very) old age for himself as well as protect the inheritance expectations of his children.
If you are a grumpy old man (or woman), or think you are married to one, why not pay Morton Fraser a visit!
failed marriage will often find a way of co-exisitng that more or less works for them both, in preference to pursuing a divorce. However, there are pros and cons.
One of the legal consequences arising from marriage is the entitlement of the surviving spouse to a measure of support from the deceased’s estate. If an elderly spouse does not want their spouse to benefit from their estate on death, they need to get specialist advice about how best to organise their affairs to achieve that objective. The Morton Fraser Private Client department is an excellent starting point for that journey. Arrangements can sometimes be made to ensure that the next generation receives the bulk of the estate, and at least in that way retain some measure of control over what eventually happens to family wealth.
By contrast, on divorce, both parties are entitled to a fair share of the matrimonial property. However, once that split has taken place, neither party has any control over what the other may do with their share. This can be important when there’s concern over the spending habits, testamentary intentions or personal relationships of the other spouse! If a comfortably well-off widow wants to spend her sunset years going on exotic cruises to find a new husband and spend the family fortune doing so (contrary to the preferences of the deceased) there isn’t a great deal the next generation can do about it. There’s a tendency to assume that family wealth will automatically go down the line, but sometimes it can go sideways and then out of the family altogether.
The key thing is to review your affairs every few years and make strategic decisions on the back of that. Such a review should take account of your wishes on your death, whether you should be reviewing your Power of Attorney, your tax affairs, pension planning, and the all important question: ‘am I happily married?’ If you aren’t, there is still time to do something about it. This doesn’t necessarily mean rushing into the divorce court, but it does mean taking a long hard look at what you want out of life, taking advice and, if necessary, restructuring your affairs accordingly.
The reality is that divorce for the elderly does tend to be more challenging simply because the marriages are, in general, longer. However, fortunately life is not just about money: my elderly client enjoyed another five years of nag free life and was happy in the knowledge that he had done what he could to ensure a contented (very) old age for himself as well as protect the inheritance expectations of his children.
If you are a grumpy old man (or woman), or think you are married to one, why not pay Morton Fraser a visit!
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