Wealth Protection and Relationship Agreements
It is not just the end of a relationship at which you may need a family lawyer, but at the beginning of one too. Relationship agreements can provide couples with much needed protection and security as to their financial position within the relationship, and help minimise any difficulties that can arise in the event of a separation.
Pre-Nuptial and Post-Nuptial Agreements
Pre-nuptial agreements are becoming increasingly popular with couples who intend to marry but wish to provide some certainty as to what happens in the unhappy event that they later divorce.
Whilst pre-nuptial agreements are not automatically legally binding in England and Wales, they can make all the difference if there is a dispute about finances on divorce, as long as the agreement is fair in all the circumstances. It is also important to ensure that legal advice and assistance is obtained when making an agreement, as this will mean it has a better chance of protecting the position of the couple in the future.
Even if a couple have married, it is not too late to enter into such an agreement. Post-nuptial agreements, i.e. after the marriage, work in the same way as pre-nups, but in some circumstances can hold even greater weight in the event of a dispute upon divorce.
It is important to allow plenty of time to prepare one, so any couple considering making such an agreement should seek legal advice at the earliest opportunity.
Cohabitation/Living Together Agreements
It is increasingly common for couples to live together and not marry. Deciding to move in with a partner or buy a property together may be one of the most exciting decisions that someone makes in their life. However, many do not consider how to protect themselves or what would happen legally if they were to split up.
There is a way in which a couple can protect themselves and provide them with some certainty, by entering into a legal agreement in the form of a Cohabitation or “Living Together” Agreement. These can be prepared to specify how any property is to be divided upon separation, the arrangements for the children, household expenses and debts, or any other relevant issue. It can also be used to sort out the day to day living arrangements so as to make life easier.
If one of the couple owns property before the relationship began, or they want any contributions that either makes to any property taken into account then it is vital that an agreement is made to reflect that.
Everyone’s situation is different and we can provide life planning advice and assistance, working with you to find the solution that is right for you.