Divorce and Separation for people over 50 years of age

When parties over the age of 50 years separate they generally have been in their marriage or de facto relationship for many years. The parties have either children in secondary school or university or their children are independent adults and often have left home.

In many case such parties may be able to access their superannuation interests or are able to access their superannuation within a few years. The parties may have business interests which must also be taken into account in a property settlement. These business interests may involve family trusts. It is therefore very important for such separating couples that consideration be given on how best to achieve an equitable division of those assets considering that the parties have spent many years together accumulating them.

In considering the restructure of a family business we would always recommend that we work in conjunction with the accountant of the parties to ensure that the parties arrive at the best possible outcome. It is imperative that sensible, workable business decisions are arrived at so that if possible all outstanding issues between mature couples are resolved and dignity and respect is maintained between the parties for each other.