We have many years of experience supporting couples who are preparing to take the next step in their lives together. We specialise in the preparation of pre-nuptial agreements (sometimes referred to as prenups) for couples prior to marriage and cohabitation agreements for unmarried couples about to start living together or already cohabiting. We can also assist with post-nuptial agreements if your circumstances have changed since getting married.
We support a diverse range of clients, ensuring they embark on the next chapter in their lives with complete confidence that they have done all that is possible to protect their position in the event of a future relationship breakdown.
What is a prenup agreement and are they binding?
Most people have heard about prenuptial or pre-marital agreements as they are often favoured by high profile individuals. Whilst prenuptial agreements are not currently binding in England and Wales, when properly drafted by a specialist family solicitor, a prenuptial agreement can be persuasive evidence to the court in showing how a couple agreed to split up their property and other assets before the breakdown of their relationship. At the moment judges will consider the agreement as one of the factors to be taken into account.
Why do couples make prenuptial agreements?
More and more couples are requesting prenuptial agreements. Many reasons are given for the decision but most commonly couples state their reason for requesting a prenuptial as being one of the following:
- That it is impossible to predict the future
- To protect their assets, and
- To achieve more certainty and control over their futures appeals.
These agreements ensure that everything possible is done to ensure any financial issues are pre-decided in the event that the relationship fails.
Our family solicitors can help couples to consider questions such as:
- How will property be divided?
- What will happen to bank accounts?
- How will shares and all other assets of value be divided?
- Which assets are owned jointly, which are owned solely and by who?
- Whether one party will pay maintenance and, if so, how much and for how long?
Cohabitation agreements
A cohabitation agreement (also known as a living together agreement) works in a similar way to a prenuptial agreement but is entered into by an unmarried couple. A cohabitation agreement can set out for example, how a property is to be dealt with in the event of relationship breakdown and can also set out arrangements for children and child maintenance provision in those circumstances.
While there are far less claims that can be pursued on relationship breakdown by a cohabitee than a spouse, the law applicable to cohabitees is somewhat more complicated. It is therefore particularly important for cohabitees to enter into a legal agreement when they start living together, particularly if there is a property, to avoid a dispute arising if they separate.
To discuss the preparation of a prenuptial agreement, postnuptial agreement or cohabitation agreements, please do not hesitate to contact our team.