All’s fair in love and law? The brave new world of ‘qualifying nuptial agreements’
At the end of February 2014, the independent statutory body whose job is to keep English law under review and to recommend reform — the Law Commission — released its long-awaited report titled ‘Matrimonial Property, Needs and Agreements’. This follows an extended four-year consultation period dating back to 2009.
The report presents to the British government recommendations on three specific areas of the law relating to the financial aspects of divorce and the dissolution of civil partnership, covering: marital property agreements (often termed ‘pre-nuptial’ agreements); ‘financial needs’ following divorce or dissolution; and non-matrimonial property.
The key headline is the proposed creation of a legal, enforceable basis for couples to contract with each other under English law. There is at present, notably, no recognition mechanism for foreign arrangements contemplated by the report and draft bill. It is likely therefore that couples who have availed themselves of equivalent arrangements in their ‘home’ jurisdiction will need to have consideration of the new English system at the top of their planning list alongside tax questions and the practical logistics of the move…
Click on the link below to read the rest of the Macfarlanes briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from The Lawyer
Briefings from Macfarlanes
M&A Weekly Update: forced sale of shares does not qualify as ‘an offer to the public’ requiring publication of prospectus; and more
Macfarlanes has released its M&A Weekly Update for the period 27 June to 3 July 2014.
Investment Management Update — 4 July 2014: FCA Handbook Notice 13; ESMA updates Q&As on AIFMD; and more
Macfarlanes has released the 4 July 2014 issue of its Investment Management Update.
Analysis from The Lawyer
As the equity capital markets rocketed back into favour and global M&A saw at least a partial return to form, there have been some rich pickings for The Lawyer’s Corporate Team of the Year award shortlisted firms in 2014.
Footie and telecoms dominate our regular round-up of recent M&A activity, as the threat of rising interest rates kick-started activity among organisations.