Marital Property Agreements: A Consultation Paper
Consultation Paper 198
- The Law Commission
- TSO (The Stationery Office)
'Marital Property Agreements (Consultation Paper 198)' asks the public’s views on a range of potential options for reforming the law of pre-nuptial, post-nuptial and separation agreements – contracts made by couples before or during their marriage or civil partnership that are intended to govern their financial arrangements if the relationship ends.
Such agreements have attracted considerable attention in recent months after the judgment of the Supreme Court in Radmacher versus Granatino, which went further than ever before in recognising their significance.
Nonetheless the Supreme Court’s decision was made in the context of the existing legislation. As it stands, the law does not allow a couple to prevent each other from asking the courts to decide how their property should be shared. And it is still down to the courts to decide on a case-by-case basis how much weight to give to any agreement the couple may have made.
In many cases this can offer important protection but it can also lead to uncertainty and expensive litigation and there have been calls for statutory reform.
The Law Commission is now asking whether the current legislation – which is a generation old – provides the right basis for determining the effect of marital property agreements, or whether a new approach is needed. Reform might bring more autonomy and certainty to couples who want to enter into such agreements, while retaining sufficient safeguards to protect vulnerable spouses and children.
|Format||Paperback||Published||11 Jan 2011|
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