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Reality Reform: Divorce Financial Provision Bill

This bill aims to reform the current divorce financial provision laws in order to address the uncertainty of basic principles and the changes in society, such as women in the workforce and common divorces. It seeks to introduce statutory law that considers various factors, including welfare of minors, financial resources, standard of living, and contributions to welfare. The bill also promotes the idea of a clean break and introduces a 5-year maintenance plan.

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Reality Reform: Divorce Financial Provision Bill

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  1. ISFL 2017 Reality Reform Resistance

  2. Divorce (Financial Provision) Bill • https://www.publications.parliament.uk/pa/bills/lbill/2017-2019/0026/18026.pdf • Private member’s bill • 23/61 in the ballot

  3. Reform needed • Uncertainty of basic principles • Development by judges over 30 years without legislative scrutiny • Changes in society – women at work & in HE, divorce commonplace, new relationships

  4. Statutory law • Matrimonial Causes Act 1973 s.25 - • Welfare of minors • Financial resources, needs and obligations • Standard of living enjoyed • Age and duration of marriage • Disability • Contributions to welfare • Gross conduct • Lost benefits • Clean break • Periodical payments end on remarriage of recipient

  5. The Estrada Case

  6. Her annual needs (some) • £1.2m clothing • £55m London house • £4.4m country house • £482K yacht rental • £93K beauty treatments • £2.1 travel • £40K fur coat • £83K 15 cocktail dresses

  7. Alex Cartoon

  8. Potanina and Hohn

  9. AAZ v BBZ • £453,000,000 to the wife (Haddon-Cave J) • “W already holds assets of £10,165,162 in value. I order the transfer to her of the contents of the English property (£2,479,125), the Aston Martin (£350,000) and the Modern Art collection (estimated value £90,581,865). Accordingly, to meet the balance, I order BBZ to pay to AAZ the sum of £350,000,000”

  10. All spent Mills v Mills

  11. Vince v Wyatt

  12. Vince v Wyatt • Separated 30 years ago • No final agreement • He became multimillionaire • 1 child together, she had 2 more • Took 5 years • Claim never extinguished • £300K award, £360K final costs

  13. My Bill • Prenuptial (and postnuptial) agreements binding if • Independent legal advice • Full disclosure • At least 21 days before wedding • Equal division of postmarital assets • Not inheritances and gifts • 5-year maintenance

  14. Scottish law • Built to Last The Family Law (Scotland) Act 1985 – 30 years of financial provision on divorce (Jane Mair, Enid Mordaunt, Fran Wasoff 2016) http://eprints.gla.ac.uk/117617/1/11767.pdf • “English law is broken & needs mending: but ours doesn’t. Ours can always be improved, of course; but generally speaking, it’s a gem”

  15. Costs • H awarded £50K, costs £490K • Award £25m, costs £1.7m • Award £42K, costs £16K • Award £4m, costs £850K • Entire award swallowed up by costs • Is a prenup binding? £600K, £2m costs

  16. The Granatino case • She - £55-100m • He research student £30K p.a. • Prenup made in Germany waiving all claims • Court orders £2.5m for his housing & £1m, house on trust

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