Prenuptial, Postnuptial and Cohabitation Agreements

A key part of any relationship is planning for the future; here at Price Slater Gawne our expert family lawyers work with couples to help them avoid future disputes by recording their intentions in the event of a relationship breakdown.

Increasingly, many couples see the wisdom in entering into agreements before they marry or decide to live together (cohabit), so as to acknowledge to acknowledge and protect financial contributions that have been made or to make commitments for dealing with such issues in the future.

We know, from our extensive experience in Family Law, that many people are sensitive to the emotional side of negotiating either a Prenuptial or Postnuptial Agreement. You can be reassured however that with our expert team looking after you, you will be speaking with lawyers who have extensive experience in drafting these agreements for clients from all walks of life, including those who have international links or assets abroad.

Here at Price Slater Gawne, our experience in drafting these agreements has been cultivated, not only over decades of drafting such agreements but, moreover, from our significant knowledge and understanding of the consequences of relationship breakdown/litigation.

We can provide straightforward advice that will help you to identify whether a Prenuptial or Postnuptial Agreement is appropriate for you, and what terms should be included in that agreement.

Prenuptial agreements

There was a time when Prenuptial Agreements were something considered to be only for the rich, celebrities, and those with truly significant wealth. Today, however, they are a legal tool used by couples who wish to protect their assets in the event of a separation at a later stage.  These agreements are also more common in couples who are considering a second or subsequent marriage.

Many people may still a little confused as to what a Prenuptial Agreement is. In essence, it is a formal agreement put in place by a couple prior to marriage. The agreement outlines the ownership of assets (property, money, and so on) that are brought into the marriage and specifies in the event of divorce or dissolution, how these assets would be divided.

Although these agreements aren’t suitable for all couples, they can provide peace of mind and reassurance in some instances, such as

• if you have children or grandchildren from a previous relationship and would like to protect your plans for their inheritance
• if you are a business owner
• if your partner has a significant level of debt and you want to protect yourself from being liable for this debt
• if you have substantial wealth that you wish to protect

It is worth bearing in mind that such agreements are not automatically legally binding in the UK, but they do provide details as to the intentions of parties prior to the marriage. Importantly, there are criteria that must be met prior to the marriage for the agreement to be considered binding by the courts.

It is possible that if the terms of the agreement are fair, taking into account the circumstances of both parties and any dependants, were drafted and the agreement signed in sufficient time prior to marriage, that full disclosure of each parties’ financial assets were disclosed to the other, and that both parties independently had the benefit of legal advice in relation to that agreement, that the terms could then be upheld by the court.

Postnuptial agreements

A Postnuptial Agreement is entered into post-marriage, usually for the same reasons as a Prenuptial Agreement, that is primarily for the protection of wealth and to achieve certainty. Such agreements allow for changes in circumstances in the years following a marriage, for example a previously unforeseen inheritance or perhaps a career change.

Power of Five

We work closely with our expert colleagues in our Wealth Protection team, covering the relevant financial issues. You can be confident that all your concerns can be dealt with efficiently and effectively. Please contact our team today on 03333 058375, or email family@psg-law.co.uk We are here to help you.

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