Pre-Nuptial and Cohabitation Agreements
It is possible to set out at the beginning of your relationship how you would like your financial affairs to be resolved should you separate or divorce in the future. Those who are getting married should consider entering into a Pre-Nuptial Agreement. For those who simply wish to live together, they should consider a Living Together Agreement.
A Pre-Nuptial Agreement is a document prepared in advance of marriage that records how the parties to the marriage wish their financial affairs to be resolved should their marriage end in the future. Although Pre-Nuptial Agreements are not yet enforceable under English Law the courts are increasingly taking them into account on divorce.
A Pre-Nuptial Agreement can be a good way for avoiding future disputes over assets that one party may have acquired before the marriage or may subsequently acquire by way of inheritance or gift.
It is important that both parties fully disclose their financial affairs to one another and that the Pre-Nuptial Agreement is entered into freely and willingly by both parties with both parties receiving independent legal advice on the documents implications. The agreement needs to be clear and signed in plenty of time before the wedding.
A Living Together Agreement or Cohabitation Agreement is a document that sets out how two people will manage their financial affairs during their relationship and how they will separate them should their relationship end in the future. It can be a good way of protecting an interest in a property that one party may have before the start of the cohabitation and can help to limit any financial claim that the other party may try to make should the relationship end in the future.< Back to Family
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