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Why You Should Make a Prenuptial Agreement

Prenuptial_Agreement

June 2022

A prenuptial agreement is an agreement reached between two parties, prior to the date of the marriage, which would set out what would happen to assets in the event of a marital breakdown. 

Whilst typically considered to be something for the rich and famous, it is easy to disregard the need for such a document.

Without a prenuptial agreement the court would start from the premise that all assets should be divided equally including property, savings, investments, income, and pensions.

Although not legal binding in England and Wales, the courts can consider prenuptial agreements if there is a dispute and are likely to uphold them if certain criteria is met.

 

For the agreement to be considered by the court, it must have been made more than 21 days before the wedding. The agreement must be reasonable, and both parties must have had full details of all assets and independent legal advice on the document. Additionally, a prenuptial agreement must be signed in the presence of independent witnesses and counter signed by a solicitor to confirm advice has been given.

 

The need for prenuptial agreement is often overlooked in the romance of getting married. However, with the average age of marriage increasing, the number of people who enter a marriage having acquired assets of their own, is also on the rise. Without the protection that can come with a prenuptial agreement, they face the risk of losing some of the property to their spouse in the event of separation.

 

If you would like more information or to discuss your options with our experts, please contact our Family Law Specialists today. 

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What is a Cohabitation Agreement?

Cohabitation Agreement

June 2022

With the continued decline in marriage rates, statistics suggest that more and more people are choosing to live together…

A Cohabitation Agreement is a legal contract that can protect you in the event of a dispute or unfortunate circumstance. 

What is a Cohabitation Agreement?

Unfortunately, the law relating to cohabitation and the rights of cohabiting couples falls short of providing anywhere near the level of financial protection that is afforded to couples who marry or enter into a civil partnership.

Many people believe after a period of time they become common law husband and wife which gives them financial protection on separation. However, this is not the case. Any entitlement to property has a starting point based on who owns the property. Other factors may come into play such as the contributions made towards the property, the intention of the parties and whether any detriment has been suffered.

It is always advisable for clients to consider having a cohabitation agreement drawn up before they buy property together to clearly set out what the intention of the parties is in relation to property and finances and what would happen in the event of the relationship breaking down. It can even cover the party’s intention in relation to children.

It is advisable to seek independent legal advice prior to entering into a cohabitation contract as there are certain requirements to ensure that the document is legally binding and would be upheld in the event of a dispute.

If you would like more information or to discuss your options with our experts.

Please contact our Family Law Specialists today.

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Family Law Legislation Changes

June 2022

The number of children subjected to marriage under the age of 18 has been on the increase for some years with the office for national statistics reporting that of the 759 cases, the forced marriage unit advised on in 2020, 199 related to victims under the age of 18.

Now with a change to the law, raising the legal age of marriage from 16 to 18, it is hoped that the more vulnerable children can be protected.

Previously, it was illegal for anyone under the age of 18 to marry unless they had parental consent. However, children could be forced into marriage by their parents and there was no law to prevent cultural or religious marriages with children under this age taking place.

The new Law makes it an offence for anyone to facilitate marriage for anyone under the age of 18 and anyone found guilty of doing so could face up to 7 years in prison, as well as a fine. People who take their children abroad to marry can also be prosecuted on their return to the UK and any marriage which takes place overseas will not be legally recognised in the England and Wales.

It is already an offence for anyone to use coercion such as violence or threats in order to make another person marry without full and free consent and the new legislation will support and expand this to protect more young people. 

This law will only apply to marriage in England and Wales, with the law in Scotland meaning that anyone over the age of 16 can marry without the need for parental consent. Whilst in Northern Ireland the minimum age is 16, however parental consent is still required.

If you would like more information or advice, our experts are here for you. 

Please contact our Family Law Specialists today.

Ask NJS

For fast, friendly affordable legal advice. Contact a member of our team today.

FAQ

For any questions we may be able to answer, discover our FAQ section.