Pre and Post-Nuptial Agreements
It is increasingly common for those intending to marry or enter into a civil partnership to make provision for what should happen to their assets in the event of a separation and divorce or dissolution. This is particularly so where people enter into second marriages or civil partnerships, and want to protect pre-acquired assets or wish to provide for children from a previous relationship.
A Pre-nuptial Agreement is a formal written agreement entered into by partners before they marry or enter into a civil partnership. The Agreement sets out how they own their assets, and how their property and financial assets should be divided in the event of divorce, separation or death.
Those who have already married can also enter into such Agreements, although they would be called ‘Post-Nuptial’ or ‘Post-Marriage’ Agreements.
Parties would be advised to consider a Nuptial Agreement in a number of circumstances, including but not limited to:
- Where there is a substantial difference between the financial position of the parties
- Where one or both have been married before
- Where one’s family has contributed to the capital
- Where one has a previous family for whom capital needs to be retained
- Where one has assets they want to protect
- Where the parties want a method to resolve the finances in the event of a separation
Nuptial Agreements give an agreed structure for resolving finances and may prevent the need for court involvement.
Here at Rix & Kay, our Family Team has expertise in advising on and drafting Nuptial Agreement for clients, often dealing with complex financial arrangements.