Pre & Post Nuptial Agreements
A Pre-Nuptial Agreement shows what is intended to happen to your finances if a marriage or Civil Partnership breaks down. There are certain conditions which must be satisfied which include:
• There must be full disclosure of the financial information of you both;
• The agreement must be fair to you both;
• You must have both taken independent legal advice before the agreement is signed;
• It must not be entered into under pressure;
• It must obviously be signed before the marriage or Civil Partnership.
If the marriage or partnership subsequently breaks down, then a properly prepared Pre-Nuptial Agreement is an increasingly important factor for any Court to take into consideration and is likely to be upheld.
These are very similar to the above but are obviously entered into after the marriage or Civil Partnership.
Couple who simply live together are often known as ‘Cohabitees’. They may show their financial and property arrangements by making a written agreement. The process of considering what might go into a Cohabitation Agreement may avoid misunderstandings, and consequently avoid much distress and complication later. A Cohabitation Agreement may be particularly relevant if you have previously been married, or involved in another relationship, and you wish to ensure that your assets are safeguarded for your children as well as making provision for your cohabitee.
There are sometimes situations where a relationship breaks down, but a couple does not wish to divorce or dissolve a Civil Partnership. In these circumstances, a Separation Agreement may be appropriate and include such things as:
• An application for divorce or the dissolution of a Civil Partnership being made once you have lived apart for more than 2 years with the other person’s consent;
• To confirm the arrangements for any children;
• To show how financial issues are to be agreed.
The terms agreed between couples cannot be legally binding although, if the Agreement satisfies certain conditions, it is likely that it will be approved. These requirements are much the same as for Pre-Nuptial Agreements above.
If you would like more information on entering into a prenuptial or post nuptial agreement, contact us to speak to one of our experienced family solicitors today.