The Law Commission has said that there needs to be greater clarity around the financial aims of a divorcing couple and it is calling for legislation to be altered in order to give a clear definition of the objectives of cash settlements.
One of the biggest difficulties to tackle during a divorce hearing whether cash settlements are meant to be for life, allowing the poorer party to maintain the same standard of living as when they were married or if the settlement should be enough simply for them to live off of, and for how long. This is a very difficult situation to try and iron out as divorce experts warn it is a very tense and upsetting time and the financial situation of proceedings can very often make matters much worse between a couple and therefore needs to be treated with the utmost caution.
One of the solutions that is being discussed is that a formula should be used in order to work out the cash settlement aspect of a divorce, as is seen in Canada. This makes the process clearer but will also make settlements more uniform and take away the onus from the judges. The formula takes into account the number of children, the difference in incomes and the number of years a couple have lived together.
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