Pre nuptial agreements

Pre-nuptial Agreementsby A H Christie Legal Solicitors LLP

[This presentation is for informational purposes only. It sha" not be construed as legal advice.]

Friday, 14 March 2014

Cohabitation or Marriage?

Legal consequences of cohabitation and marriage break-up

Marriage: more protection to the stay at home parent

Pre-nuptial agreement offers a chance to discuss financial matters before the wedding

But cohabitants with children treated similarly to married couples

Cohabitation Agreement can grant protection to the stay at home parent


Divorce

What will happen to my pre-marital property? How about...

Inheritance

Gifts

Business interests

Investments


Divorce : stay at home parent

My partner gave up her/his job to raise children. What will she/he get on divorce?

Who will keep the kids?

Who will get the family home?

Other assets?


Divorce: division of assets

Starting point 50:50

What factors are taken into account when property is divided?

Financial contributions

Needs and interests of children

Needs of the spouse who is not earning or earning less

Family home - usually goes to the stay at home parent guardian of the children


Solution: Pre-Nuptial Agreements

Currently non-binding but have a persuasive force

Law Commission report from 27th February 2014 recommends a that courts make financial orders consistent with nuptial agreements

Can provide for: financial settlement upon divorce, spending matters, child custody issues, maintenance payments etc.

Pre-nuptial can make divorce quicker and less painful.


Pre-nups: some of the requirements

Has to comply with standard contract rules

Signed and witnessed

Both parties need to be separately advised

Can’t contract out of ‘financial needs’ and fairness

Full financial disclosure

Signed at least 28 days before the wedding


Do you have any

questions?Would you like to know more about

pre-nups?

Email us @ ahchristielega"lp.co.ukCa" 020 7565 0020


Marketing

Pre nuptial agreements