Pre and Post Nuptial Agreements
A pre nuptial agreement is a contract signed before a marriage, setting out what should happen in the event the marriage doesn’t work out. A post nuptial agreement is the same type of contract, but signed after the marriage.
These types of agreements are increasingly being given more weight and consideration by the courts. The essential principle is that the Court should now give effect to such agreements if they are freely entered into with a full appreciation of its implications, unless in the circumstances prevailing it would not be fair to uphold the agreement. This effectively means that pre and post nuptial agreements are likely to be upheld by the Court as long as they are deemed to be fair and do not prejudice the reasonable requirements of any children of the marriage.
Due to the uncertainty and judicial discretion that exists when dividing up matrimonial assets it seems sensible that people consider entering into a pre or post nuptial agreement to create some certainty and give them the opportunity to decide for themselves what a fair outcome would be if the marriage should breakdown in the future.
Pre and post nuptial agreements can be a difficult subject to approach due to worries about not wanting to seem unromantic and pessimistic. However, by entering into such an agreement a couple will have to discuss, disclose and consider their financial circumstances and the financial issues that they may face when married, so it should really be regarded as a practical approach to marriage and sensible financial planning for the future.
Although the legal implications of marriage are probably not the first thing people think about when getting married it is important to understand that marriage does have a huge legal and financial impact on your life. Our specialist team of solicitors can help explain and advise on the issues that you need to consider to ensure that your interests, and indeed your family’s interests, are protected.
Contact our Family Law Team today to arrange an appointment for further expert advice on pre and post nuptial agreements.