3 Jun 2019
We look at how a change in relationship status later in life can impact financial planning for your clients.
Recent marriage stats show huge changes in how we live our lives. Marriage rates at younger ages continue to fall while marriage rates for men over the age of 60 and women over the age of 50 are increasing. More people are also choosing to cohabit either as a precursor to marriage, or instead of it. These changes impact financial planning, so advisers must ensure their clients’ financial plans reflect their current needs and circumstances. If not, families could find themselves under severe financial pressure if one partner dies.