Amanda Masson: ‘Silver separators’ face different challenges

The breakdown of a significant relationship or marriage can happen to anyone, regardless of social status or age. As the news broke of Princess Margaret’s son’s forthcoming divorce, much was made of the fact that the marriage between David Armstrong Jones and his wife, Serena, had come to an end after over 25 years. For some reason, it is as if the longer a marriage subsists the greater the degree of surprise or regret when it ends.

Amanda Masson is Partner in the Family Law team, Harper Macleod

The phrase “silver separators” was coined by the media to describe the phenomenon of the individual in their 50s or over who decides, later in life or after a lengthy marriage, to pursue divorce. Divorce does not, however, necessarily affect a particular demographic more than others.

Separation and divorce no longer carry the social stigma which they once did, which may be one reason behind the rise in the number of so called “silver separators”.

Often clients in their 50s or beyond will cite “growing apart” as the reason behind the end of a marriage.

I recall an elderly client telling me that he faced retirement and realised that he and his wife had absolutely nothing in common any more. Their children were independent. He wanted to enjoy what was left of his life and knew that he and his wife did not share the same retirement goals. He wanted to sell the family home and travel, while his wife was looking forward to a retirement in which she would help to care for grandchildren. They could not square the circle.

The legal principles to be applied to resolution of child related and financial matters are, however, the same regardless of age or standing, although the practical and emotional considerations to be borne in mind will differ.

Although it tends to be the case that children of the marriage are grown up, there can still be issues of ongoing financial support. To coin another well used phrase, the “bank of Mum and Dad” may still be required after separation.

Individuals who separate later in life may be less worried about the impact upon their children, but can be concerned about ongoing relationships with grandchildren or step children. In some cases young adults will be vocal about their views on why their parents’ marriage came to an end, with perceptions of blame colouring ongoing relationships with one or both parents.

Those who face separation as they approach the end of their working lives may be concerned about how they will fare financially too. While they may be more prepared to downsize than younger clients when it comes to housing, they will likely be concerned about the impact of separation upon their pension pot, which is often the most significant asset which those in their 50s or over will have.

The structure of any financial settlement can be of greater significance than it may be for someone in their 20s or 30s because financial planning is more acutely in focus. A client may prefer to preserve their pension pot intact in order to maintain a certain level of expected income, even if that means that a capital sum payment due to a spouse requires to be funded by encashment of other assets or the sale of property. Inheritance planning is another factor which tends to be of more concern, particularly if ill health is a factor.

Bringing it back to the royal divorce, for those who are in the public eye there is the additional strain of media interest and comment. The principles to be applied and the factors to bear in mind in advising a client at a later stage in life remain the same regardless of the identity of a particular client; however some clients require the protection of orders from the Court to protect details of their settlement reaching the public domain (so-called “gagging orders”). Consideration can also require to be had as to how to protect the details of out of court settlements becoming public knowledge, too.

Amanda Masson is partner in the Family Law team, Harper Macleod