Chapter 6- Financial orders Flashcards
Which section of the FPR 2010 governs financial orders?
Part 9
Which section of the MCA sets guidelines for the court to impose financial orders
S25 MCA 1973
What are the factors considered for financial orders (9)
1) welfare of children and family S25(1) MCA
2) financial resources of the parties S25(2)(A) MCA
3) present and future financial needs, obligations, responsibilities of parties S25(2)(b)
4) standard of living enjoyed by family before breakdown of the marriage S25(2)(c) MCA
5) Age of the parties and length of marriage S25(2)(d) MCA
6) mental/ physical disabilities of the parties S25(2)(e) MCA
7) contributions made by the family, during marriage or in future S25(2)(F) MCA
8) conduct of the parties if that conduct is inequitable S25(2)(g) MCA
9) Value of any benefit that the party may loose chance of acquiring of marriage dissolves S25(2)(H) MCA
What type of finances are considered under financial resources?
Pension, insurance, inheritance, income, child care giving, future earnings, premium bonds, property,
What type of facts are considered for present and future financial needs?
Housing, bills, travel, food, upkeep of household, new families / income of second partner, education and health
What type of facts are considered for the standard of living enjoyed by the family before breakdown of the marriage?
Court will consider it may not be maintained, any fall in living standard is shared equally.
What type of facts are considered for age and duration of the marriage?
If you g and childless probably will get clean break, and won’t be awarded high settlements Miller v Miller
If old, vice versa
What type of facts are considered a party who has a physical or mental disability?
They may have lower capability of earning of greater needs
What type of facts are considered for contributions made by parties welfare of family during marriage and in future?
White v white - stay home parent contributions are equally as important
What type of facts are considered for conduct between the parties, if that conduct is inequitable to ignore?
Evans v Evans - case where lump sum was reduced as wife encouraged husband to commit suicide
What type of facts are considered for the value of any benefit which the party will loose the chance of acquiring if the marriage is dissolved?
Prenups are not binding despite ruling of Radmacher v Granatino
They will be following pending bill in government
What is the clean break principle
Where parties leave the marriage financially independent.
Delayed clean break can occur where periodical payments occur for a limited time then clean break from there
What did white v white establish
There is to be no discrimination with roles when deciding financial orders. Home makers and bread winners are equal and judges should check preliminary results against yardstick of equality
Which case is contradictory to white v white and why
Cowan v Cowan- husbands initiative and entrepreneurial intelligence make his financial contribution greater
What did miller v Miller; Mcfarlane v Mcfarlane establish
Periodical payments can be used by way of compensation to the party who has had a reduced income. I.e the home maker