Post Nuptial Agreement
Post nuptial agreements are a contract between a married couple or civil partnership, whereby you agree your property rights over any assets you both may hold, in the event of death or divorce. While similar to a Pre nuptial agreement they can be drawn up at any time after marriage.
A post nuptial agreement can be useful in a number of situations:
- To bequeath assets to beneficiaries other than your spouse
- If you brought unequal capital into the marriage and would like to make sure that this is reflected in the event of divorce
- If one party focuses on childcare or homemaking while the other furthers their career, to compensate the stay at home partner
- To deter further infidelity in a troubled marriage
Can a postnuptial agreement save a marriage?
In some cases, couples use post nuptial agreements to rescue their relationships from divorce.
The couple sign a postnup to give one party greater property rights in the event of divorce. The unfaithful partner stands to lose a lot of money if they further jeopardise the marriage.
What can be included in a postnuptial agreement?
- How the couple will divide assets such as property in the event of divorce
- Whether one spouse will pay spousal support (and how long for)
- How marital debts will be divided
- How assets will pass if either spouse dies
Is a postnuptial agreement legally binding?
Nuptial agreements are not legally binding in the UK. Family courts use this precedent from a supreme court case to decide whether to enforce the agreement.
“The court should give effect to a nuptial agreement that is freely entered into by each party with a full appreciation of its implications unless in the circumstances prevailing it would not be fair to hold the parties to their agreement.”
This means:
- You and your spouse must receive separate independent legal advice
- It must be fair (The terms should give you both somewhere to live and money to live on)
- Full financial disclosure is crucial
- There must have been enough time for both parties to give due care and consideration to the agreement.
- Ideally, sign the document 28+ days in advance of the marriage or civil partnership
- The court's main responsibility is to divide property fairly. They can and will overrule the agreement to do so, especially in the interests of any children affected.
Frequently Asked Questions
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