Are parents liable to be financially affected by the divorce of one or more of their children?

Some of the latest official statistics on divorce in the UK make for interesting reading, perhaps not just for those directly affected too.

Here are two to focus on; First off the latest available numbers suggest that around 42% of all marriages end in divorce. Second the average ages at which couples get divorced are 45 for men and 42 for women.

The financial implications for those couples around that age group are clear: divorce is often occurring at a critical stage of people’s lives. The 40-50 years are arguably the most important accumulation years for an average couple. This is the period which has the most impact on how much money an individual will have in retirement.

A divorce can cause havoc with financial planning at such junctures. However, this average age of divorcing couples perhaps presents an even bigger financial planning aspect: the bloodline consequences…