Legally Binding Pre-Nuptial Agreements, Equal Share of Matrimonial Assets and Maintenance for Only Five Years! - Is this the Dawn of a New Era in Divorces?
With Brexit dominating the political arena, one could be forgiven for failing to notice that in December 2018 the Divorce (Financial Provision) Bill had its third reading in the House of Lords and is continuing to make its way through Parliament. Such is the concern within the family law community that the Law Society Gazette reported earlier this month that Lady Hale, the President of the Supreme Court, had taken the highly unusual step of criticising the bill ( https://www.lawgazette.co.uk/news/hale-risks-political-storm-by-questioning-legislation-before-parliament/5070911.article ). So what is it all about? The bill, if it passes through parliament and becomes law, proposes to radicalise the way financial settlements are made on divorce. It seeks, in some respects, to pull the rug from beneath the discretionary feet upon which the family courts presently make decisions, potentially removing the uncertainty as to a spouse’s entitlement on a divorce.