- Clarify, through the provision of guidance by the Family Justice Council, the law relating to ‘financial needs’.
- Investigate the possibility of whether an aid to calculation of ‘financial needs’ could be devised.
- The report also includes a draft Nuptial Agreements Bill, which would introduce ‘qualifying nuptial agreements’ in England and Wales.
At the heart of the Commission’s report was a need to end the historical confusion and uncertainty about the extent to which a spouse should be required to meet the financial needs of their ex-partner. Historically, there has also been ambiguity as to how the courts have treated property that one party brought into the relationship or acquired by gift or inheritance during it after their formal relationship has come to an end.
Prior to the report’s publication, there had been a great deal of speculation that the Commission may recommend that prenuptial agreements should be enforceable.
The topic of pre-nuptial, post-nuptial and separation agreements has continued to grow in importance since the judgment of the Supreme Court in Radmacher v Granatino [2010] UKSC 42.
Oliver Gravell, Partner, Collaborative Lawyer & Family Law Arbitrator at Birketts commented: “Financial and property disputes between separating spouses or civil partners often lead to distress and expense. The courts have a broad discretion to redistribute the parties’ property and income. Birketts’ clients are taking preventative advice over whether they would benefit from a cohabitation or pre/post nuptial agreement."
Ginny Colman, Senior Associate and Collaborative Lawyer at Birketts added: “Whether we see a final response from the Government this side of the general election in spring 2015 is an interesting point. It seems Judges are prepared to accept that public opinion is changing and are taking this on board when determining pre/post-nuptial agreements should be binding. These agreements are no longer a tool used by just celebrities and wealthy couples. Today’s report goes a little way to say they may be given legal status on them in the future.”
The full report can be found here.