Pre-Nuptial, Cohabitation & Civil Partnership Agreements

Pre-Nuptial Agreement

A pre-nuptial agreement is a formal agreement which defines how a couple will manage their assets during their marriage and determine how they will be divided if the marriage fails. They are particularly helpful to couples whose assets at the beginning of the relationship are unequal or where either of them wishes to protect their own property or finances for the benefit of children they have had from a previous relationship.

Pre-nuptial agreements are not legally binding on the Court which retains the power to decide on what they regard is a fair division of the marital assets. However, the Courts may look upon a fair agreement, signed without coercion by the couple after taking independent advice and with complete knowledge of the financial position, as applicable on divorce particularly if the marriage has been short and childless.

Before deciding how much bearing any agreement will have in the making of their decision they will take the following into account:

• Was the agreement fair and genuine.
• Did each party have the benefit of independent legal advice.
• Did both parties have a precise understanding of the financial implications
• How long before the marriage was the agreement finalised.
• Whether either party was pressured, either financially or emotionally, into signing.

Any significant changes in circumstance since the agreement was signed will also be considered, for example, how long the couple have been married, whether they now have children and any change in either party’s finances or health.

If you would like more information or advice on the making of a Pre-nuptial Agreement contact Macks Solicitors Family Department on 01642 252828.

Cohabitation Agreement

It is advisable for couples who live together without marrying or registering a Civil Partnership to seriously consider the making of a properly drawn up agreement, particularly if they have children. Maintenance arrangements for any children if the couple separate can be included in the contract as well as the division of any assets.

Cohabitation Agreements are being increasingly taken into account by the Court at the end of a relationship or death of a partner, as an indication of the couple’s intentions regarding their assets and can be important to a couple who live together but, having chosen not to marry or to enter into a Civil Partnership, would like to regulate their living and financial arrangements. Couples purchasing property jointly should discuss in depth and agree, prior to completion of the purchase, on how the property will be settled if they separate. They should then seek legal advice on how to go about drawing up the documentation required for such an agreement.

Couples who live together should also be aware of the importance of making Wills, especially if there are children involved, so that provision can be made for the surviving partner and any children in the event of the death of one of the partners.

Contact Macks Family Law on 01642 252828 for further information and advice.