Law Commission’s Report on Matrimonial Needs, Property and Agreements

The much awaited Report has now been published and it includes a set of measures to make it easier for couples to manage their financial arrangements on divorce or at the end of a civil partnership.  The measures are

Guidance to help couples assess and agree financial needs,
An assessment of the feasibility using formulae to help agree financial settlements and
‘Qualifying nuptial agreements’  to allow couples to decide how their assets should be shared if they separate.

The Report identified that there are regional differences to how the Courts approach orders for financial needs and this makes the outcome unpredictable.

The Law Commission recommends that there should be an authoritative guidance on financial needs which would enable couples to reach an agreement that recognises their financial obligations to each other.

The Law Commission also recommends that there should be a study into whether a workable non statutory

According to the Office for National Statistics the number of divorces in England and Wales in 2012 was 118,140, an increase of 0.5% since 2011, when there were 117,558 divorces.

According to the report, the number of divorces declined between 2003 and 2009 from 153,065 to 113,949 followed by a 4.9% increase in 2010. The number of divorces has remained relatively stable since 2010, fluctuating just below the number recorded in 2010.

Further key findings include:

Divorce rates: In 2012, 10.8 people divorced per thousand married population, a decrease of 19% compared with 13.3 in 2002.
Age at divorce: The number of divorces in 2012 was highest among men and women aged 40 to 44.
Duration of marriage: The median duration of marriage for divorces granted in 2012 was 11.5 years, which was the same as in 2011. This is an increase from 11.1 years in 2002.
Marital status before marriage: In 2012, 19% of men