The Real Game of Life

The era of the nuclear family is passed. And that’s OK…

The family is more diverse than ever. Over six million people are now cohabiting in the UK; this type of ‘living arrangement’ is the fastest growing family type of our generation. You can choose to marry, or not to marry. You can have children, or not have children. We live in the era of choice.

Today’s family living is under more pressure than before. The Modern Families Index 2018 says that 52% of families are finding it financially difficult, especially when it comes to juggling careers, household bills and childcare.

The current 1973 Matrimonial Causes Act sets out the criteria the courts take into account on the division of assets when a marriage breaks down. The law, however, has not kept up with changes in society where no two families are the same. Family lawyers are guided by Judgments handed down by the senior courts when advising clients when applying the Matrimonial Causes Act to each individual case. The highly publicised Sharp [2017] case saw the Court of Appeal apply previous Judgments and the criteria in the Matrimonial Causes Act in a short marriage between a young couple with no children. The court departed from the established principle of sharing the “fruits of the marriage.” New cases before the courts and outdated laws are why it is crucial to take legal advice as early as possible to ensure the law is fairly applied to your individual circumstances.

Protect your future
Herrington Carmichael has a well respected Legal 500 ranked “strong and united” family team with offices in London, Berkshire and Surrey. Herrington Carmichael routinely acts for high-net-worth individuals and an increasing number of international clients.

Herrington Carmichael looks at every aspect of an individual’s situation, pre and post marriage, and how best to safeguard their assets, wealth, finances for the children, pensions and business interests.

“A family breakdown can be a very stressful time, one of the first questions that I am asked is, ‘will everything be divided equally?’ The answer is not straightforward. Fairness does not necessarily mean equal division of assets.”