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Family Law

The importance of Pre-Nuptial or Post-Nuptial Agreements

Friday, March 8, 2024

Sam and Phillip have just got engaged! This is a very exciting time for them both and they are looking forward to planning their wedding. Both parties are very excited, but Sam and Phillip have both considered what would happen to their assets in the event they separated.

It would be suggested that if Sam or Phillip had any particular asset they wished to safeguard in the event of separation, we would suggest the following options are considered with the support of a Solicitor.

Pre-nuptial agreement

Sam and Phillip could enter into a pre-nuptial agreement before their marriage to outline how assets and liabilities are to be divided in the event of a divorce. This can encompass assets such as inheritance, any business interests, and investments.

We would suggest that these agreements are not rushed into ahead of marriage and that both parties finalise any pre-nuptial agreement at least 6 weeks before their date of marriage.

Post-nuptial agreement

If Sam and Phillip had already married, this does not mean they cannot enter into an agreement which deals with their assets upon separation. Sam and Phillip could consider entering into a post-nuptial agreement which would govern the assets and liabilities of the parties and how they are to be dealt with upon divorce.

Though these agreements are incredibly helpful upon separation, we would suggest that both parties receive independent legal advice as to the nature of these agreements. Any agreement needs to be fair to both of the parties and have consideration to any children under the age of 18. A Court will take any agreement pre or post marriage into account, but there is no guarantee that it will be wholly relied upon.

If you would like to discuss any of these issues, please do not hesitate to contact Olivia Hutchinson in our Family Law team or via telephone on 0191 232 8451.

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