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Showing posts with the label Maintenance

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?

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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 di...

CORONATION STREET AND ABOLISHING TAX CREDITS: HOW THE UNIVERSAL CREDIT COULD AFFECT YOU

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Many will be blissfully unaware that a new Universal Credit was introduced by the government in 2012 as part of its welfare reforms. It replaces seven of the means tested benefits including child and working tax credits. It has already been introduced in different parts of the country and now the Tories have obtained a majority it is going to be phased out across to all parts of the country by 2017. What does this mean for me? It will mean that if you receive tax credits (or other means tested benefits) you will receive just the Universal Credit. Given that the government needs to find £12bn in welfare savings I very much suspect its introduction will mean, in one way or the other, some form of cut to the amount of financial help you receive. Why is a family solicitor telling me this? Good point. Well, there is more… Presently any child or spousal maintenance payments from an ex-spouse are not taken into account when calculating tax credits. They are completely ign...

RELATIONSHIP CONTRACTS...??

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N owadays it seems that not a day goes by without your inbox being inundated with links to various websites or articles. Typically many of them are quickly discarded to the junk box. However, I could not help but feel enticed by a recent link I received ( Of course I should make clear that the inquisitiveness was purely professional and I was concerned only with the legal connotations (!)). “How relationship contracts are growing popularity - Sex twice a week” http://www.dailymail.co.uk/femail/article-2317173/How-relationship-contracts-growing-popularity-Sex-twice-week-I-agree-stay-120lbs.html In an age of increasing commercialisation, the ever growing popularity to put a legal stamp on marriages through pre and post nuptial agreements, together with the emergence of cohabitation deeds, I do suddenly wonder whether the idea of a relationship contract is not so far fetched after all. I fully understand the argument that the existence of legal documents governing a relation...