Pre & Post Nuptial Agreements
In the current financial climate we all have to pay close attention to our financial circumstances; a very good way of doing this is with a pre nuptial or post-nuptial agreement.
The family structure has changed significantly over recent years; people are marrying later and establishing their families later on in life or alternatively people are entering into second or third marriages. Families are far more diverse and as a consequence of this it is no longer considered to be “unromantic” to consider and structure your financial commitments prior to your marriage.
In the past this has not been a particularly strong area of law, and even though you could enter into a pre-nuptial agreement there was no guarantee that the court would have regard to the arrangements set out should your marriage break down. However in recent years there has been a significant change in the way in which pre-nuptial agreements are viewed by the court. If a pre-nuptial agreement is drawn up properly, both parties have given full disclosure and have had appropriate legal advice then the agreement should be binding. It does however have to be reviewed to ensure that it is effective and can be amended after the marriage.
Even if parties do not enter into a pre-nuptial agreement they can after their marriage enter into a post-nuptial agreement. The same criteria apply in that there has to be full and frank disclosure with both parties having the benefit of the legal advice.
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