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Business News 2010
Business News-> {Annual Matrimonial Survey shows 11 Year Itch'

Annual Matrimonial Survey shows 'Not So Much a 7 Year Itch but an 11 Year Itch'
11 July 2010

Couple70% of solicitors found that couples file for divorce when they have been married between 11-20 years with a further 24% of divorces coming from marriages that last between 6-10 years dispelling the clichéd myth of the seven year itch, according to the seventh annual matrimonial survey from leading business and financial advisers Grant Thornton. One in four marriages (25%) in the UK breakdown due to couples growing apart and falling out of love compared to 6% in 2009. Of the solicitors surveyed 27% stated marriages broke down due to extra marital affairs and 18% stated the cause was due to unreasonable behaviour.



"This rather dispels the age old myth about marriages failing after seven years. It is impossible to put any scientific reasoning on why certain marriages succeed and others fail. However this survey probed Solicitors about the real reasons behind divorce applications rather than the generic reason sometimes given of 'unreasonable behaviour',"says Sally Longworth, partner at Grant Thornton's Forensic and Investigation Services practice.

All out of love and hiding the money

For the fourth year running, this study shows that men seeking divorce are more likely to conceal assets from their partners. 83% of solicitors surveyed believed that it was the husband who concealed assets in divorce proceedings compared with only 2% of wives concealing assets.

"Divorces are often acrimonious and costly affairs. Individuals, filing for divorce, often want to protect their previously acquired wealth from their spouse. Also, with the addition of so many high profile big money divorces, this may have scared wealthy individuals into trying to hide their assets," continues Longworth.

In terms of which party retains assets, 94% of solicitors said that the main residence remains with the party with whom the children reside. 60% of solicitors responded that the pension remains with the husband and 44% responded that the family business remains with the husband.

Pre and post nuptial agreements still prominent

Additionally, for the fourth year running, the survey shows that the volume of pre-nuptial advisory work has continued to increase with 63% of solicitors stating that they have seen more work in this area. 44% of solicitors who responded have seen an increase in the number of post nuptial advisory work this year compared to only 32% in 2009. This increase is reiterated by nearly a quarter (24%) of solicitors surveyed asking for pre- and post - nuptial agreements to be made legally binding.

"The recent case of German heiress Katrin Radmacher going to the Supreme Court to uphold a pre-nuptial agreement is a further example of the uncertainty around pre-nuptial agreements and the call by many to make pre-nups legally binding. The outcome of this case is eagerly anticipated not just by matrimonial lawyers but by divorcing couples too. It will pave the way on whether pre nups are valid under English law," concludes Longworth.

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