Tag: family

Government Aim to Make Weddings More Accessible

July 4, 2019, By
government make weddings more accessible

As we enter a more modern world, we are seeing many more outdated legislations being completely disregarded. One area which is subject to current focus by the government is the change to marriage requirements.

UK Prime Minister Theresa May and Lord Chancellor David Gauke have worked hard as part of a two year effort to urge the Law Commission to review the laws governing where and how weddings take place with a view to creating  more freedom.

The initiative that was announced on Saturday 29th June could potentially mean that civil ceremonies can take place at sea, in private homes or even at military bases for those who are on duty and are unable to get married elsewhere.

When asked about the government’s motivations behind the potential change, David Gauke stated; “people from all walks of life should be able to express their vows in a way that is meaningful to them.”

Although there is now a big push towards more marriages in the UK, sadly there is also a longer than ever waiting list for those who are getting divorced. In this respect, the proposed bill aimed at reforming divorce law in England and Wales by allowing couples to part without finding fault, recently received its second reading in parliament.

Protecting the Bank of Mum & Dad – Protecting Money With Pre & Post Nuptial Agreements

June 12, 2019, By
protecting bank of mum and dad

If you are considering gifting or loaning money to your married son or daughter on an informal basis, then you should be aware of the real risk that their spouse or civil partner may receive all (or a substantial amount) of that money in the event of a breakdown in the relationship.

This is because in financial proceedings following divorce, the Family Court will generally view such monies as forming part of the assets that can be distributed, and informal loans will likely be dismissed as being ‘soft loans’ and not repayable. In order to minimise the risk of these situations arising, it is vital that:

  • Where you are gifting the money, that the gift is suitably ring-fenced within the terms of a pre-nuptial or post-nuptial agreement
  • Where the money is a loan, that this is documented in a formal loan agreement and ideally a legal charge (mortgage) for security on any property owned.

Following substantial changes to this area of family law in the past decade, pre-nuptial and post-nuptial agreements (provided they are properly drafted and freely entered into, with full financial disclosure) will, generally speaking, be given effect by the Family Court as part of the discretionary exercise it undertakes, provided there are no circumstances which would mean that it would not be fair to hold the parties to the agreement. For the avoidance of doubt, such agreements cannot exclude the Family Court’s jurisdiction.

Please note that there may be tax implications in relation to any gift or loan. If you are considering making a gift or loan to your son or daughter, you should always seek specialist legal and tax advice in respect of your options.