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Annual
Matrimonial Survey shows 'Not So Much a 7 Year
Itch but an 11 Year Itch'
11 July 2010
70%
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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