A pre or postnuptial agreement is a legal document which is designed not only to set out your financial obligations to one another and what will happen to your assets and property in the event that the marriage comes to an end, but also to provide a peace of mind, clarity and transparency as you plan your future together.
Where parties are considering a Civil Partnership, then a Pre- Registration Agreement will be prepared.
An agreement drafted for your specific requirements can include:
- Property/ assets acquired before the marriage– Whether pre-acquired property, assets and gifts or inheritance are to be separated and ‘ring-fenced’ from the ‘Matrimonial pot’ available for division;
- Property/ assets acquired before the marriage– How property, assets and possessions acquired during the marriage will be dealt with?
- Existing & future Businesses– What will happen to an existing or future Business(es);
- Inheritance- How will inheritances received by each party during the marriage be treated?
- Loans– Details of any loans that have been or will be received from family members and others and any repayment terms;
- Bank Accounts– What will happen to existing Bank accounts and whether there are plans to open a joint bank account if one is not in place;
- Heirlooms- What is to happen to heirlooms?
- Financial obligations– Whether financial obligations to one another e.g spousal maintenance will continue;
- Pension provisions– Whether there are to be any pension provisions such as a pension sharing or attachment;
- Law to prevail– Which country’s legal system will deal with the financial matters in the event of a divorce;
- Compensation to a spouse– Whether spouse will be compensated in the event of ceasing to work or taking a career break to look after the children;
- Pets- What will happen to any pets;
- Consent Order– Whether the terms of the agreement will be embodied into a draft consent order in the event of a divorce;
- Confidentiality clause- To prevent either party discussing the contents of the Prenuptial Agreement;
Prenuptial Agreements are not automatically enforced in England and Wales. However since the case of Radmacher v Granatino 2010] UKSC 42 more weight is being given to Prenuptial Agreements by the courts. The Law Commissions Report 2014 published on 26th February 2016, discussed what would be required for a Qualifying Nuptial Agreement.
Following The Law Commissions Report 2014 published on 26th February 2016, it is recommended that for a Prenuptial Agreement to be a Qualifying Nuptial Agreement, the Agreement should be:
- Contractually valid; be in writing and should be entered into freely without any pressure to do so;
- Validly executed as a deed;
- Made and signed more than 28 days before the wedding or civil partnership ceremony
- Before signing the Agreement, both parties should have had full material financial disclosure from each other and had sufficient time to consider the contents of the agreement and to seek independent legal advice in respect of the contents of the Agreement.
International elements and Mirror Agreements
In the event that there are international elements we will discuss with you Mirror Agreements. These are Agreements prepared to mirror or reflect the contents of what you have agreed with your Partner to ensure that the Agreement is recognised in the other jurisdiction or country. The object of this is to try to increase the possibility of the Agreement being enforceable in the other jurisdictions.
Where Mirror Agreements are required by you, we can liaise with other International experts including lawyers and work with you to ensure the agreements reflect your wishes.
Unless properly drafted, an Agreement may not be worth the paper it’s written on.
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For further information and free from obligation, please contact our family law specialists on 0207 332 2222 or email our family team.