Parmjeet Bhambra, Head of the Family Law department at Penn Chambers, and an experienced divorce solicitor has touched on the pre and post nuptial agreements topic.
Whilst it is considered by many to be unromantic, attitudes towards nuptial agreements have changed. We have seen an increase in clients seeking a pre or post-nuptial agreement as part of their relationship planning.
Yes, discussing what would happen in the event of a divorce and how the assets would be split when planning a wedding is not ideal but resolving financial matters when a relationship breaks down can be stressful for all involved.
A pre-nuptial agreement which is entered into before the parties marry or enter into a Civil Partnership establishes the ownership of property and financial assets and how they intend to divide the same in the event of a divorce or dissolution.
A post-nuptial agreement is entered into after the parties have married or entered into a Civil Partnership.
A nuptial agreement can define what is considered ‘joint property’ and ‘separate property.’ It may also deal with income and sometimes deal with financial provisions for existing children. Upon a significant event during the marriage, such as the birth of a child, the terms of the agreement are reviewed. A nuptial agreement will not include non-financial arrangements relating to children such as where the children are to reside.
Nuptial agreements are not binding but should the matter need to go to Court, the Court will give appropriate weight to the agreement and the circumstances of the case.
Please contact me if you are considering whether a nuptial agreement will meet your needs.
0207 183 2450
The information provided in this article is not intended to constitute professional advice and you should take full and comprehensive legal, accountancy or financial advice as appropriate on your individual circumstances by a fully qualified Solicitor, Accountant or Financial Advisor/Mortgage Broker before you embark on any course of action.