Financial Provision for Children
Although for many years there have been calls to change the law to provide greater fairness for unmarried couples upon the breakdown of their relationships, it is unlikely that the position will change in the near future with previous Law Commission recommendations shelved for now. As such, the rules applicable for unmarried couples remain limited in scope.
Applications can be made for financial provision for children under Schedule 1 of the Children Act 1989 for:
- Child maintenance (in addition to that assessed by the Child Support Agency), which can include school fees and fees for childcare; and
- A capital lump sum for costs directly related to the care of the child, for example a car or furnishing for the home; and
- A transfer or settlement of property for the purpose of providing a home for the child during their minority. Once the child completes their education (whether that is secondary or tertiary is to be negotiated) that property will be returned to the parent who either provided or funded it
Such provision has previously been linked to couples with substantial assets however we are increasingly finding that many people can benefit from such orders and it is important that advice is taken as soon as possible after separation so that you can be fully aware of your rights.