Nuptial Agreements

Whilst you would think it made perfect sense that you and your partner could agree to deal with your finances on separation in whichever way you chose, unfortunately this is not always the way the court sees matters.  Nuptial Agreements are still not completely legally binding in the UK and no Nuptial Agreement can oust the jusrisdiction of the family courts. This means that if circumstances and/or needs dictate, the Judge can divide your assets in a different way to that agreed.

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However, whilst not the most romantic pillow talk you will have with your partner, a well drafted agreement could definitely save tears and provide some protection should the worst happen and the marriage doesn't last.  (We wont dampen your spirits with the statistics!)

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Marital agreements have increased in popularity due partly to the fact that people are getting married later in life and have already acquired assets, or maybe on a second (or third! no judgement here) marriage and there are children of a previous marriage for whom you wish to protect pre-acquired assets.

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Having a nuptial agreement certainly deserves early consideration if one or both parties have a business, there is a family farm, pre-marriage pension contributions or an inhertitance.

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In light of the changes in modern relationships, it was proposed by the Law Commission in 2014 that in the future, a nuptial agreement should be, in essence, legally binding if it meets both parties’ financial needs and those of any child of the family and complies with the following criteria:

 

• Is contractually valid (the validity requirement).

• Is validly executed as a deed and contains a “relevant statement” (the formation requirement).

• Was not made within the 28 days immediately before the wedding or civil partnership ceremony (the timing requirement).

• Both parties received material financial disclosure from the other party before entering the agreement (the disclosure requirement).

• Both parties received independent legal advice at the time they entered the agreement (the advice requirement).

An agreement that meets this criteria is termed a “qualifying nuptial agreement”.

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If the worst has happened and you are maybe not ready to face divorce, or you have been living together, then a Separation Agreement can provide some certainty in respect of your finances and the children. Our Separation Agreements start from £1200.00 plus VAT. If you do later divorce we would always advise that a Separation Agreement is converted into a final financial order.

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At Wildblood Legal we have the expertise and experience to guide you through creating a qualifying pre-marriage, post-marriage or separation agreement so that your agreement is as legally binding as it can be.  Nuptial Agreements start from £1500.00 plus VAT but if your circumstances are fairly complicated expect to pay from £2500.00 plus VAT.

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If you would like to know more about the pros and cons of a nuptial agreement please call us on 01765 357005 or email  hello@wildbloodlegal.co.uk

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Its also really important that you have an up to date Will to reflect your new circumstances.  Our Wills start from £200.00 plus VAT. 

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Outside of our fixed fee advice our usual hourly rates start from £275.00 - 375.00 plus VAT and we charge in units of 1/10th of an hour (so 27.50 plus VAT per 6 minute unit, email or short phone call)

We do not offer Legal Aid.