Secured periodical payments meaning

Y v Z [2024] EWFC 4 What are the practical implications of this case? Before determining the application, the court was taken through a series of authorities. Peel J concluded that those decisions do not reveal a standard tariff or an upper limit; instead, each application falls to be decided on its own facts and within its specific context, with context being decisive... ChA 1989, Sch 1 empowers the court to order a settlement of property, commonly structured as a trust, licence or lease. Such arrangements preserve the payer’s ownership of the asset, whilst permitting the payee to live in the property with the children during their minority, or until the conclusion of tertiary education, as explained in Re A (A Child: Financial Provision) [2014] EWCA Civ 1577, [2015] 2 FLR 625 and UD v DN (Schedule 1, Children Act 1989; Capital Provision) [2021] EWCA Civ 1947, [2022] 2 FLR 308... In addition, the court may direct the payment of a lump sum or a series...

Duty of the court to consider a clean break Although a financial clean break is not presumed on divorce, the court remains obliged to assess whether using its powers to end the parties’ mutual financial responsibilities is appropriate. When deploying those powers, the court must also examine how and when each party’s obligations to the other should cease, and aim for termination as soon after the final order or decree as it judges fair and reasonable, consistent with what it regards as just and reasonable. In doing so, it evaluates both the practical method and the timing of that cessation. Section 25A of the Matrimonial Causes Act 1973 (MCA 1973) – mirrored in the Civil Partnership Act 2004 (CPA 2004) – does not specify when a clean break order may be appropriate, offering no guidance on the circumstances. However, where the court opts for a periodical payments or secured periodical payments order, it must consider capping the term to what is sufficient to allow the recipient to adapt, without...

Practice Note This Practice Note sets out guidance on implementing and enforcing financial orders arising from family proceedings when one party has died. It examines the impact of a death on applications, and on secured and unsecured periodical payments, lump sum orders, property adjustment orders and pensions orders. Where a party dies before divorce or dissolution proceedings have begun, the parties remain married or in a civil partnership, and the deceased’s estate passes in line with their will or, if none, the intestacy rules. A claim for a financial order is personal to the spouses or civil partners and does not survive death. If either party dies before an application under the Matrimonial Causes Act 1973 (MCA 1973) or Civil Partnership Act 2004 (CPA 2004) for financial provision or property adjustment is made, the court has no jurisdiction to make a financial order. Likewise, if death occurs before the financial proceedings are determined, the court will be unable to make a financial order...

Practice Note This Practice Note outlines guidance for drafting the terms of a periodical payments order (also referred to as maintenance), and encompasses the financial remedy order produced under the standard orders project. It addresses payment frequency, acceptable methods of payment, the duration of payments, and the application of index linking. It also sets out the court’s authority to make secured periodical payments orders, indicating what may constitute appropriate security and how such directions can be put into effect. Particular caution is required when formulating the terms of any periodical payments order so that it accurately reflects either the parties’ agreement or the court’s judgment. The Precedent: Standard order 2.1—financial remedy order, which includes periodical payments orders, has been issued by the President of the Family Division; use of the precedent is not mandatory, though its adoption is strongly encouraged. For broader guidance on the standard orders project, see Practice Note: Standard orders—general principles. See also Practice Notes: General principles of consent orders and Drafting the terms of a...