The Law Commission recently opened a consultation as to what extent, if any, pre nuptial agreements should become binding.
The scope of the consultation has now been extended to discuss non matrimonial property in that:-
1.What is defined as non matrimonial property?
2.Will non matrimonial property ever become matrimonial property due to the passage of time?
3.Should non matrimonial property ever be shared between the parties or only shared to meet the parties needs?
As to the needs of the couple, the consultation will all cover whether one party should continue to support the other (spousal maintenance as opposed to child maintenance), for how long (with incentives to encourage independence) and whether the needs should be calculated by reference to a standard formula or left to the Judge to decide considering the individual circumstances of the case?
The consultation is open to both specialists and members of the public and The Law Commissions Website (which includes a video introduction) can be found at:
http://lawcommission.justice.gov.uk/consultations/matrimonial_property.html
The consultation period remains open until the 11th December 2012.
For information or specific advice regarding pre nuptial agreements, contact Lindsey Canning on 0114 266 6660 or email [email protected].
