What is a Post-Nuptial Agreement?
If you are married, and did not enter into a pre-nuptial agreement prior to your marriage, a Post-Nuptial agreement is an agreement recording the matrimonial assets held by you and your spouse should be divided in the unlikely event of a divorce.
At FisherWright Solicitors or solicitors possess a wealth of experience in Family Law and Post-Nuptial Agreements. Our solicitors will not only understand the matters which are important to you, but will thoroughly assess the intricacies of your finances and other interests to ensure that all your assets are protected in the best possible manner.
The benefits of entering into a Post-Nuptial Agreement
Whilst Post-Nuptial Agreements cannot supersede the decision of the Court in determining the division of matrimonial assets, a Post-Nuptial Agreement can be beneficial for a number of reasons. Not only can a Post-Nuptial Agreement provide both you and your spouse with certainty and clarity in relation to the assets you hold acquired both prior to and during the marriage, and their potential division in the unfortunate event of a divorce. Entering such an agreement could streamline proceedings for a financial remedy at the Court. You may consider such an agreement even if you have previously entered into a Pre-Nuptial Agreement if there has been a material change in the circumstances of either party or a party has inherited or acquired further assets.
A Post-Nuptial Agreement could also minimise conflict between parties in relation to the division of assets and also encompass provisions to protect the interests of children. Such an agreement could be extremely beneficial to couples who have reunited after a period of separation.
Is a Post-Nuptial Agreement legally binding?
Despite the fact that a Post-Nuptial Agreement cannot supersede the decision of the Court, in proceedings for a financial remedy is likely to ‘give effect’ to a Post-Nuptial Agreement which has been entered into freely by both spouses, with a comprehensive understanding of the consequences of such an agreement, and the terms of the agreement are fair.
In considering fairness, the Court will have regards to all circumstances including, whether parties have exchanged sufficient disclosure of financial assets, had received full independent legal advice, whether the terms of the agreement will fulfill the essential needs of both you and your spouse on divorce, whether you or your spouse were under duress, or any issues of fraud arise, and lastly whether parties intended to be bound by the terms of the pre-nuptial agreement.
What can a Post-Nuptial Agreement include?
Akin to a Pre-Nuptial Agreement, the contents of a Post-Nuptial agreement can be tailored to suit the needs of you and your spouse. Our dedicated team of solicitors has extensive experience in drafting Post-Nuptial Agreements and will be able to provide comprehensive and practical advise as to the contents of your agreement, however, as an overview terms that may be included in the Post-Nuptial Agreement could include:
- Provisions for the division of property including the Matrimonial Home;
- Provisions dealing with any assets inherited during your marriage;
- Provisions dealing with trusts;
- The division of finances including joint accounts;
- Provisions for the division of your pensions;
- Liability for debts;
- Potential maintenance claims;
- A clause for the review of a Pre-Nuptial Agreement following a passage of some years;
- Provisions relating to confidentiality;
- Arrangements in respect of your children;
- Claims under a will
For further information regarding post-nuptial agreement, or to speak to a solicitor please contact FisherWright Solicitors today.