What is a postnuptial agreement?
A postnuptial agreement legally protects your assets in the same way as a prenup. The two documents are almost identical, except that a postnup is formed after marriage or civil partnership.
If you decide to review your prenuptial agreement after marriage or civil partnership because your financial circumstances have changed, the new agreement will get the label of a postnuptial agreement).
A prenuptial agreement might be easier to create that a postnuptial one. Since both parties are still leading independent lives, it is easier to decide who owns what. After marriage, assets might become intermingled and more challenging to separate.
Prenuptial and postnuptial agreements are not necessarily legally binding in the UK. Therefore, irrespective of your intentions, courts are not required to uphold any of the arrangements. However, if you created these contracts correctly, their contents will have a more positive impact on the court.
At Robertsons Family Law, we advise our clients on the legal requirements of a postnuptial agreement. Both parties to the marriage must give full financial disclosure to finalise the document.
Examples of what can be included in your Postnup Agreement
Property. How will the property be split? A couple may decide in advance who will be entitled to remain in the marital home. Property owned before marriage is sometimes automatically not included in the marital pot.
Other assets and belongings. You should state the full extent of these upfront.
Financial provision for children. What can be provided?
Maintenance. Who will pay and how much?
Business assets. One party might have significant business interests and what would happen on separation?
Any outstanding debts and how they must be settled.
The agreement can also include future income and how you will construct your separate Wills.
Our expert divorce solicitors at Robertsons Family Law can advise you about the best way to form a postnuptial agreement so that the financial situation in the marriage or civil partnership is straightforward and comprehensive to everybody. It is a sensitive process, and we will bear in mind that we’re working with people in a relationship and their long-term interests.
We can have as much or as little involvement as you want us to.
Remember that periodical reviews of postnuptial agreements should form part of your estate planning. Circumstances can change with the birth of children, illness, or changes in employment. If you have already entered into a postnuptial agreement and you feel your current position has now changed, we can review the document and advise you on any necessary amendments. If you are looking to enter into a relationship then you should consider our page discussing prenuptial agreements.
FAQs on Postnuptial Agreements
What are the requirements for a postnup agreement?
Our family solicitors at Robertsons Family Law can help you draft your postnup and advise you on the importance of frank financial disclosure.
I need advice about my existing postnuptial agreement
Our family law team is hugely experienced and provide legal advice to clients throughout the UK.