The UK Government is looking to carry out an extensive review of 50-year-old legislation that determines how financial assets are split after divorce in England and Wales.
A review of the current laws will be undertaken by the Law Commission, the independent body which reviews legislation. The review will seek to bring clarity to the existing laws and make suggestions which could improve the current legislation.
“Associate Solicitor, Sarah Dowie, who specialises in Family Law, said: “Existing laws are seen by many as outdated as they rely heavily on the financial position of the opposing parties and the discretion of judges in each individual case.
“Currently, the starting point in financial matters is to split the combined wealth of divorcing spouses equally, even if one partner is the breadwinner.
“The Matrimonial Causes Act 1973 has been criticised for being uncertain and unpredictable, with spouses often turning to litigation due to a lack of clear guidance on how wealth should be divided.
“As Legal Aid is no longer available for most types of family law matters, and drawn-out court battles can be detrimental to children, the Government’s review is long overdue and we await the outcome with interest.”
Sarah added: “In the interim, if you are facing a marital breakdown, it is important to seek legal advice to ensure that the division of assets is equitable for each spouse and makes sensible financial provisions for any children.”
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