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Postnuptial Agreement Solicitor
Postnuptial agreements are often chosen when a couple is relocating to the UK or one has had an early inheritance or a gift from a family member and they want to protect their assets or if they’re experiencing uncertainties in their marriage. A post nup tends to be used to agree on what will happen to the couple's assets if they were to get divorced or separated, allowing them to focus on repairing their relationship.
What is a postnuptial agreement?
A ‘post nup’ is an agreement that is entered into after a marriage or a civil partnership takes place. The agreement stipulates the financial terms of the divorce. For those separating from a civil partnership, postnups are often referred to as post civil partnership agreements or ‘post cips’.
How to get a postnuptial agreement?
Postnuptial agreements have the best chance of being upheld by a Court when:
- Both parties gain independent legal advice regarding the agreement before it is entered into.
- No pressure is applied to either party.
- Sufficient and accurate financial information is submitted by both parties. This should include an overview of their financial situations, so that both parties are aware of the financial position of the other when entering into the agreement. This allows a judge to assess whether the terms of the agreement are fair.
- They are reviewed on a regular basis or in the event that there has been a change in circumstances.
Benefits of a postnuptial agreement
- They provide financial peace of mind, especially if the relationship breaks down.
- ‘Post nups’ act as a record of the additional assets that have been brought into the relationship by each party and how these are to be defined as assets.
- They help protect the inheritance of children from a previous relationship.
Cons of a postnuptial agreement
- Assumption of divorce - Some partners feel that opting for a postnuptial makes divorce more likely to occur. This can cause tensions within the relationship.
- Couples may not agree - When spouses don’t agree on the terms of the post nup, the process can be dragged out, causing resentment and a lack of trust.
- Enforceability - As post nups happen after marriage they tend to get scrutinised more. If the judge deems the agreement as unfair, it won’t be enforceable.
- Disclosure – often partners do not wish to disclose
Navigating a postnuptial agreement with Wright Hassall
At Wright Hassall, our family law team has decades of experience enabling them to give you the best possible advice. We will help you with your financial arrangements as well as ensure your children are financially protected.
Due to being a full-service law firm, we have over 180 years of experience working with private clients. For those wanting to protect their business assets, our corporate and commercial teams are happy to provide you with any advice you may need.