Prenuptial & Postnuptial Agreements
We understand that it can be difficult to start considering financial matters on the breakdown of your relationship before the breakdown. However, a prenuptial agreement can provide you peace of mind in respect of your assets, should this unfortunate situation arise. In respect of postnuptial agreements, the main difference is that they are entered into after the marriage.
We can assist you by drafting a concise agreement that can assist the parties to agree on financial matters – whether at the outset or during the marriage. This agreement can allow you to outline the ownership and rights over assets (including joint assets), debts, incomes, inheritance, etc. The purpose of the agreement is to confirm how the same will apportioned upon separation.
Following the case of Radmacher, the court can exercise its discretion and consider the contents of this agreement as one of the factors when deciding financial remedy proceedings. If an agreement is freely entered into by each party with a full appreciation of the implications unless it would be unfair to hold the parties to the agreement. Therefore, although these agreements cannot oust the court’s jurisdiction, they can be given substantial weight during the financial remedy proceedings – so long as appropriate steps are followed.
The drafting of such an agreement can be complex and it is best to contact our firm and we can thereafter cater the advice to your personal circumstances.
In some cases, parties do not want to proceed with a formal divorce. However, they seek to have a legal agreement in place regarding the settlement reached in respect of financial and children matters. This can be relied upon should the parties proceed to divorce and financial separation. This is a legal document that you can seek to enforce and normally our team would be able to assist you to have this formalised in a consent order at the appropriate time. This will provide you the protection and finality you may seek on the breakdown of your relationship. This type of agreement is wide-ranging and can deal with many aspects such as debts, properties, childcare, bills, savings, etc.
We have explained how we can assist you within our section marked Cohabitation & Unmarried Couples. This type of agreement would be a legally binding document setting out your legal and financial obligations to one and another – this is especially useful should the relationship breakdown in the future. The overall aim is to prevent and reduce unnecessary disputes, doubt, and costs in the event of a relationship breakdown.