POSTNUPTIAL AGREEMENT SOLICITORS
What is a postnuptial agreement
Postnuptial agreements are usually entered into for the same reasons as prenuptial agreements – primarily for the protection of wealth and to achieve certainty. They are entered into post marriage.
Postnuptial agreements allow for changes in circumstances in the years following a marriage, for example previously unforeseen inheritance or a career change.
Postnuptial agreements in England and Wales
The run up to any wedding is exceptionally busy, with so many things to think about that you may not have had time to put a prenuptial agreement into place in sufficient time before the wedding or at all.
Alternatively, circumstances after marriage might change, new information may come to light, a significant inheritance or other windfall may arise, or you may make discoveries which could potentially jeopardise the future of your relationship and marriage.
In these circumstances, a postnuptial agreement will help to give you peace of mind.
Many couples do not realise that it is possible to enter into an agreement after they have married or entered into a civil partnership. Postnuptial or postmarital agreements are often used when parties wish to confirm and/or amend a premarital agreement to reflect a change in their circumstances and/or after a passage of time.
A postnuptial agreement is also an effective way to document intentions for earnings and assets during the marriage as well as protecting your assets in divorce.
What are the reasons for a postnuptial agreement?
Couples may wish to enter into a postnuptial agreement for a variety of reasons such as:
- Receiving an inheritance during the marriage
- The birth of a child
- The start-up of a new company/business venture
- To simply record beneficial interests in the assets already owned
Our dedicated Nuptial Agreements Department has extensive experience in drafting these agreements. Our experience has been cultivated, not only over decades of drafting such agreements but, moreover, from our significant knowledge and understanding of the consequences of relationship breakdown/litigation.
We can provide straightforward advice that will help you to identify whether a postnuptial agreement is appropriate for you and what terms should be included in that agreement.
We are sensitive to the emotional side of negotiating an agreement. We have experience in drafting these agreements for clients from all walks of life, including those who have international links or assets abroad; and we understand the interplay between marriage contracts.
Our Nuptial Agreements Department
PARTNER AND FINANCIAL ARBITRATOR
“Julian has a great knack of deciphering subjective ramblings and putting a very succinct and objective communication together. He takes an extremely pragmatic approach based on case histories, the law, client input and data.”
“Robert is very reassuring and concise in his explanation of the law and legal process.”
A key requirement for postnuptial agreements is for each person to have independent legal advice. We are often recommended by other firms to provide independent legal advice and equally we work with many solicitors and law firms across the country and we can make recommendations as to whom your spouse may wish to consult to obtain independent advice
This network ensures that both parties will receive sensible and correct advice which will ultimately make the process as uncontentious and easy as possible.
Rayden Solicitors is committed to equality and diversity and in doing so supports and advises all members of our community.
Postnuptial Agreement FAQs
Are postnuptial agreements legally binding?
Provided that the document is drafted properly then it is extremely difficult to challenge a postnuptial agreement. Pre and postnuptial agreements are not strictly enforceable, but if certain criteria are met a court is very likely to uphold the document. At Rayden Solicitors we can offer advice on whether a prenuptial agreement or postnuptial agreement is more suitable and will ensure that the document is drafted appropriately to meet all the necessary requirements.
What should be included in a postnuptial agreement?
A postnuptial agreement should include a detailed breakdown of finances such as assets and debts, current income and any expected income. It should also include how these will be divided in the event of a divorce and what maintenance payments will need to be made where appropriate.
What will the process involve?
Whether you are the person wanting to draft the postnuptial agreement or you have received a draft agreement from your spouse, you will need to come in for a meeting to take specialist advice on the law surrounding such agreements, the impact of such an agreement on your rights and the specific terms of the agreement. That meeting will usually last 1-2 hours.
Following the meeting we will either draft the agreement or amend an existing agreement based on the points discussed. We will also prepare a detailed letter of advice explaining the agreement to ensure you fully understand the implications of it. Once the agreement is in an agreed form it will be sent to your spouse’s solicitor for them to review.
There may then be some negotiations as to the terms and drafting, which will need to be resolved.
Once the agreement has been approved by everyone, it will need to be signed by all parties and the advising solicitors.
How long does it take to prepare a postnuptial agreement?
This will depend on the complexity of the agreement and the speed at which the parties and their solicitors act. However, if all parties are able to work swiftly an agreement can usually be completed within 1 to 3 months.