A pre-nuptial agreement (‘pre-nup’) is an agreement made before you get married confirming how your assets will be divided between yourself and your partner should the marriage breakdown.
A post-nuptial agreement is a similar agreement of how your assets will be divided should the marriage breakdown, but is entered into whilst you are still married to your partner.
You may wish to enter into a pre-nuptial or post-nuptial agreement for a variety of reasons including:
- To forward plan in the event the relationship does break down
- If you wish to safeguard your wealth from your partner if you are no longer together
- If you have children before your impending marriage and wish to safeguard some of your assets for them
- If you have received financial settlements from a previous marriage which you wish to safeguard
- If you wish to safeguard a particular asset such as property, land or your business etc.
Neither pre-nuptial agreements nor post-nuptial agreements are technically legally binding, however cases such as Radmacher v Granatino (2010) allow courts to place considerable emphasis on the agreements when deciding financial settlements upon divorce in certain circumstances where safeguards have been put in place, such as the parties had proper financial disclosure before signing the agreement.
Our experienced lawyers will be able to advise you on the safeguards which should be in place so if your relationship does breakdown, your agreement will be seen as fair and reasonable before the courts and so will have a good chance of being upheld in Court.