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. 

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.