Matrimonial Property Needs And Agreements

The Law Commission for England and Wales has just published its report on matrimonial property, needs and agreements. The project was the subject of a first publication in 2011 of a consultation paper on marital property contracts and, in 2012, following the extension of the project, a supplementary consultation document focusing on the additional areas of financial need and non-marital ownership. Our main recommendations in the report are: We recommended that the Family Justice Council develop guidelines for needs. In 2009, the Legal Commission launched a project to examine the status and applicability of spousal property agreements. In January 2011, we opened a consultation that reviewed the existing Marriage Property Contracts Act and discussed reform options. He therefore felt that the government`s final response to marriage agreements should wait for the next Parliament to give the new government time to consider our policy recommendations on this issue and the bill. The report contains recommendations to clarify the law on “financial needs” in the event of divorce or dissolution of a life partnership. And the introduction of qualified marriage contracts in England and Wales. Legal provisions for compulsory marriage contracts and help people understand the law on the repair of an ex-spouse`s financial needs after the breakdown of a marriage. Guidelines have been developed and the work of the government has been done, but we are waiting for a definitive response. Sarah Anticoni, partner of Charles Russell LLP, said: “Pre-marriage and follow-up contracts have been renamed into qualifying marriage contracts. To be binding, these agreements are subject to safeguards to protect the financially weak party. No document can exclude from the resources of families the responsibility to meet the needs of both parties and those of children.

Parties cannot leave their spouses without anything and expect the state to accept the bar. The law will remain as it has been since 1973, with judges having the power to exercise discretion over how to allocate each family`s resources in the event of divorce in order to meet needs. It seems clear that it will be possible to exclude any claim for compensation or sharing of acquired or non-marital property (previous successions or divorce agreements). If the bill is successful, it is between couples before, during or at the end of their marriage or partnership on how their assets and finances are treated when they separate. Our report contains a bill on marriage agreements that would introduce qualified marriage contracts in England and Wales. The project also focused on the treatment of pre-marital, post-marital and separation agreements. But where this is not possible, the courts have a very broad discretion to redistribute the assets and income of the parties. Such agreements are not enforceable at present, but the Supreme Court`s decision in Radmacher/Granatino [2010] UKSC 42 stipulated that there was a “decisive weight” at their disposal, unless the agreement was unfair. It was agreed with the Department of Justice to extend the scope of the project to a targeted review of two aspects of the financial provision for divorce and dissolution of a civil partnership: financial needs and non-judicial ownership.