English courts are increasingly taking marital agreements into account when deciding how to divide assets on divorce although these are not currently legally binding. A well written and carefully planned prenuptial agreement can potentially protect you and your spouse from unnecessary conflict and hostility should the relationship come to an end.
The different between the three types of agreement are that prenuptial agreements are entered into before the marriage, postnuptial agreements are entered into during or after the marriage and separation agreements are entered into at the end of the marriage. Often the agreements will be similar in terms of the issues they cover. These may include financial provision should the relationship come to an end, how you and your partner are to be rehoused and how many children will be looked after financially.
Although such agreements are not automatically binding, they may carry decisive weight and the court is likely to hold the parties to an agreement which has been freely and voluntarily entered into where disclosure and independent advice have been given where there is no duress and the agreement is broadly fair.
During a marriage or if one spouse is unhappy, sometimes it may be sensible to enter into a postnuptial agreement or a separation agreement so that you and your partner can work on the relationship without worrying about the financial consequences of whether the relationship endures or not.
Our solicitors in Clapham, Hammersmith and Liverpool Street can help you and your partner to navigate what may otherwise be a difficult negotiation exercise. The process can also be highly emotive and sensitive.
Why not give us a call to discuss further how we can help you and your spouse bring clarity to your financial arrangements.