We propose a theoretical model for branching instabilities in 2-dimensional fracture, offering predictions for when crack branching occurs, how multiple cracks develop, and what is the geometry of multiple branches. The model is based on equations of motion for crack tips which depend only on the time dependent stress intensity factors. The latter are obtained by invoking an approximate relation between static and dynamic stress intensity factors, together with an essentially exact calculation of the static ones. The results of this model are in qualitative agreement with a number of experiments in the literature.