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