Local members of the family justice body Resolution have welcomed new research which shows most people back a change in the law to give cohabiting people more rights. Currently, cohabiting couples have few or no rights in the event of a relationship breakdown meaning that unlike married couples there is no mechanism for splitting assets.
Pre & Post Nuptial Agreements
We can advise and draft a pre-nuptial agreement if you are intending to marry and need advice regarding a pre-marital agreement and the possibility of protecting assets that you have acquired before marriage.
Talk to one of our friendly and experienced team on 01442 872311
What is a prenuptial agreement?
Pre-nuptial agreements are formal agreements between couples which set out what the financial arrangements are to be both during the marriage and in the event the relationship breaks down.
A prenuptial agreement encourages parties to discuss finances from the outset and can help resolve financial issues before the marriage/civil partnership has started. Prenuptial agreements are also a good way of protecting family assets or property acquired before the marriage or civil partnership.
They can also help provide financial security if there are children from previous relationships or marriages. As long as such provisions are fair and all other required criteria are met, they will most likely be upheld by the court. The court is not obliged under UK law to keep to the agreement but unless there have been significant changes they are likely to regard the agreement as very persuasive. Prenuptial agreements can also save time and costs. Having a prenuptial agreement that is valid and fair may help avoid long financial settlement proceedings in the event of a future separation.
The Agreement must be entered into voluntarily, financial disclosure must be given and each party has to have independent legal advice. Further, the agreement should be signed at least 28 days prior to any wedding or civil partnership ceremony.
What is a postnuptial agreement?
A post-nuptial agreement is the same as a pre-nuptial agreement save that it is entered into after the marriage.
Although pre and/or post-nuptial agreements are not technically binding under English Law, the standing of such agreements is progressing. If you wish to discuss the suitability for a pre or post-nuptial agreement for you, contact us to explore your options.