Jun/090
Government has over 65% Share of Lloyds
Lloyds have signed the new Government Protection Scheme, but they are not happy about it.
Lloyds have signed the agreement after losing £10.8bn when they bought HBOS. The move to take over HBOS was supported by the government but it later suffered a loss of £10.8bn that Lloyds had to take on themselves. This has forced Lloyds to sign up to the Asset Protection Scheme to protect them from ‘toxic loans’, but in turn this gives the Government over 65% share in the company.
The asset protection scheme has been designed to help the banking sector and give consumers more confidence within the market.
Jun/090
Government Asset Protection Scheme
The new Government Protection Scheme will insure banks against asset losses and they will therefore be able to commit more to lending.
RBS had currently signed and now Lloyds have signed up to the scheme which will see them lending around £28 billion.
However, the Government has said that although taxpayers will eventually get something back, they “do not plan on nationalising the banking sector”.
Jun/090
Private Client - A Summary
A private client is the dealings of legal affairs such as family law for an individual.
Jun/090
Adoption, Special Guardianship and Fostering
Special Guardianship, Adoption and Fostering are all in place to make stable foundations for children who have had difficult childhoods so far. One form is not ‘better’ than the other, they are there to look out for the best interests of children.
Taking this into account one judge has denied special guardianship to a woman who was caring for a baby smuggled from Kenya to England before the child was taken into care in 2003. The judge and the local council both felt adoption would be best for the long term security of the child.
Jun/090
Special Guardianship better than Adoption
The Government are looking to improve the care system for children. They have brought in a new order called Special Guardianship in which a child that has had a difficult and unstable childhood will be taken out of the care of the local authority and instead placed with a carer, or special Guardian. This is different from adoption because although the carer takes on full parental responsibility for the child and can even claim benefits to help support the child, the biological parents are still very much a part of the child’s life.
This new order is said to give children a stable family life, something they may not have had in their birth family home. The order doesn’t have to be permanent, it can vary and it can come to an end. It is an order the Government are hoping will help children and their families.
Jun/090
Catherine Zeta-Jones renews prenup to eliminate tit for tat
Originally, Catherine Zeta Jones signed a Prenuptial agreement stating that in the event her and Michael Douglas split, she would receive 2 million pounds for each year they had been wed. Now, a new prenuptial agreement has been made that she will only receive £1million for each year that they are married should a split occur, and has also dismissed her right to receive half of Douglas’ earnings.
Catherine Zeta Jones says that she was tired of petty arguments and wanted to concentrate on the wedding.
Jun/090
Prenups to become the norm
Prenuptial agreements are to become binding, the Government have decided. Though the courts will still have to be involved in some cases, it is thought that prenuptial agreements should be written up before people enter into marriage, or after, to ensure equality should there be a break-up.
The Government also wants to bring in a 50:50 ruling when couples break up. This rule is already exists in Scotland.
Obviously, the Courts will have the over all ruling in such cases but processes such as prenuptial agreements will give many people the assurances that they will not be left broken nor with devastating losses should a split occur.
Jun/090
Fathers MUST be More Involved and Face Up to Responsibility
The Government are now trying to focus all their energy on making Fathers more responsible for their children, at home and during separation.
Though the Government is bringing in 3 months unpaid parental leave for fathers, it is assumed this will only emphasise the inequality between men and women. The mother is always seen as the primary parent, whilst the father as the primary money earner and this is the reason many men will turn down 3 months parental leave and choose to stay at work.
Most now feel that if parental leave was paid like maternity leave is, this would help resolve inequality, and also help maintain a healthy family life by putting children first.
Encouraging more men to be involved in the upbringing of their children can only resolve the issues that surround parental responsibility and fathers. Most fathers stay at work because they feel they cannot afford to take unpaid parental leave. If this was paid, it would encourage more dads to share the responsibility of bringing up a child, rather than allowing the mother to act as a lone parent.
Jun/090
Dads not Married? No parental rights!
Parental responsibility is the ability to legally be able to make decisions for your child up until the age of 18 when the child is considered a young adult and can legally make the decision for their selves.
Most dads do not know that if they are not married when their child is born, or do not do so after the child is born, they have no or limited parental rights to their child. This responsibility goes to the mother in the event of a split. This means that fathers cannot sign school trip forms or hospital operation consent forms and more importantly, they cannot stop their child being taken out of the country by the mother.
Another fact that some fathers are still unaware of is that by completing a parental responsibility agreement form and returning it to the court, he will then be given parental responsibility. The mother does not need to sign the agreement; however it would be a good idea to get her to sign it if she will.
Jun/090
Seperation or Divorce?
Though couples who wed vow to stay together for eternity, in this day and age most do not. Some people even enter into marriage because they know they can get divorced!
However, divorce is often looked upon negatively by some religions and families. If divorce is not a viable option for someone, there are alternatives that allow them the same benefits as being married.
There are two forms of separation, civil and judicial.
Civil separation is a legal separation. This is sometimes not the right option for some couples as it requires co-operation from both parties so that a financial agreement can be worked out. This financial settlement is to stop one spouse being having financial advantage whilst the other spouse gets nothing.
Judicial separation is more like divorce. It costs as much as a divorce and valid reasons need to be stated as to why there should be a separation.
Under Divorce Law, couples wait 2 years to be able to legally divorce if the marriage is just not working and has broken down. For an immediate divorce there needs to be evidence of adultery or unreasonable behaviour.
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