Joe Vaitilingam
Attend an evening with Andre Agassi
In choosing to examine the status of pre-nuptial agreements, the Law Commission has missed an opportunity to clarify the wider and far more significant issue of how to split marital assets on divorce.
Confirming the position on pre-nuptials will at best serve only well-heeled couples who may be spared some pain if their marriages founder. The commission’s time would be better spent considering a reform of the law that deals with the division of marital assets on divorce. This would have far-reaching consequences and would touch many more people than will benefit from prenuptial agreements achieving legal status.
Since Parliament last considered the issue of splitting assets in the Matrimonial Causes Act 1973, lawyers are faced with 35 years of contradictory case law that has created confusion, uncertainty and fertile ground for litigation in divorce.
Despite the high publicised decisions of the House of Lords in the Miller and Macfarlane cases and numerous recent decisions in the Court of Appeal, family lawyers are unable to give confident and certain advice to their clients about the outcome of financial disputes on divorce.
When is it fair for one spouse to receive more than half of the family assets? And if it is fair for one spouse to get more than half, how much more?
How much money does anybody need to receive as a lump sum to stop them needing maintenance on top? If maintenance should be paid, how should the level be set? Should it be enough to meet day to day needs or enough to compensate someone for a career forsaken for parenthood? How can such compensation be calculated?
Ask 10 divorce lawyers or judges these and similar questions and you will get 10 different answers. The result is that divorcing couples seeking to move on swiftly from family breakdown cannot be certain of being able to do so.
The commission’s criteria for selecting projects include the importance of the issues, the extent to which the law is unsatisfactory and unclear and the potential benefits of reform.
The importance of certainty for divorcing spouses and their children is self-evident. It is hard to imagine that there is an area of law that is more unclear not only to litigants but to its practitioners.
The benefit of reform to many thousands of litigants and their families would unquestionably be worth the resources that the Law Commission considers would be needed properly to consider the issues.
Undoubtedly, divorce and its repercussions present a political minefield. Tinkering with the problem, represented by a consideration of prenuptial contracts, rather than tackling it head on, is not a proper answer to a question causing considerable difficulties, emotional and financial, to many families.
If the Law Commission will not deal with the issue, Parliament should.
Joe Vaitilingam is a partner at Hughes Fowler Carruthers.
Articles from our sister site WSJ.com:
You may be asked to subscribe to read certain articles
Industry sectors news at a glance. Interactive heatmap, video and podcast
Everything the Business Traveller needs to know to make a better trip
Get ready for the winter sports season, with our resort guides and snow reports
We are backing British business, what is the confidence of the nation and what businesses are succeeding?
Growing demand for energy, oil that is harder to reach and the rise of carbon dioxide emissions. We examine the energy challenge
With rail travel in Europe on the rise, we review the benefits of travelling by train
In this special section we explore new food trends to help improve your dinner party and impress guests
Enjoy further reading from Travel to Fashion, Business to Sport, discover more
Shortcuts to help you find sections and articles
1998
£47,955
12 months for the price of 11 and a 5% discount.
Offer ends 31/11/09
Check your free Experian credit report before applying
Car Insurance
to £60K + bonus (OTE £90k)
Lord Search & Selection
Location Flexible
PwC’s Consulting practice helps businesses of all shapes
and sizes work smarter and grow faster.
£85k
CPA
Highly Competitve
Specsavers
Whiteley, near Southampton
Moments from Battersea Park.
For sale with Winkworth
Find out about shared ownership.
See your free Experian credit report beforehand
7nts - Penang £499; Borneo £699; All Inclusive £799 including flights, taxes, accommodation and private transfers
For your ultimate tailor-made ski holiday, click here
Get covered on your travels with a superb range of policies at great prices. Visit InsureandGo.com
World Class Golf, Spa and preferential Beach Club. Private estate overlooking West Coast
Villas from £275 per night inclusive of Golf
Contact our advertising team for advertising and sponsorship in Times Online, The Times and The Sunday Times, or place your advertisement.
Times Online Services: Dating | Jobs | Property Search | Used Cars | Holidays | Births, Marriages, Deaths | Subscriptions | E-paper
News International associated websites: Globrix Property Search | Milkround
Copyright 2009 Times Newspapers Ltd.
This service is provided on Times Newspapers' standard Terms and Conditions. Please read our Privacy Policy.To inquire about a licence to reproduce material from Times Online, The Times or The Sunday Times, click here.This website is published by a member of the News International Group. News International Limited, 1 Virginia St, London E98 1XY, is the holding company for the News International group and is registered in England No 81701. VAT number GB 243 8054 69.