The Family Justice Council has published a guide to financial needs on divorce.
It is aimed at primarily at legal professionals , unlike the Council’s guide to divorce finance for litigants in person, which was published earlier this year.
Guidance on “Financial Needs” on Divorce is written to clarify the meaning of ‘needs’ when couples divorce and provide a clear statement of the desirable outcomes of financial orders on divorce and encourage consistency of approach.
It was written with reference to the most common type of divorce, in which the assets available do not exceed the reasonable needs of the parties and there is consequently no need for expensive court action over the excess finances. The aim is to encourage financial independence for both parties as soon as possible.
The guide highlights the central role of family obligations and children in creating financial dependency and establishing specific needs on divorce – principally housing and income, including after retirement.
In his foreword, Family Division President Sir James Munby explains that the publication offers legal professionals “a succinct summary of the law”. He adds:
“I trust that …colleagues will find the Guide helpful and will consult it as a useful reference guide. The intention is that it will be revised and updated at regular intervals and, to this end, the Working Group welcomes feedback with a view to informing future revisions.”
The Family Justice Council is an advisory body sponsored by the Ministry of Justice.
Read the guide here.