“All the adversity I've had in my life, all my troubles and obstacles, have strengthened me. You may not realise it when it happens, but a kick in the teeth may be the best thing in the world for you.”
They are agreements entered into by two adults with a desire to avoid or reduce future conflict and cost. They are entered into at a time when the parties are positive and are communicating in an honest and open matter.
Pre-nuptial agreements are entered into prior to marriage. They are particularly useful if one party is bringing significant assets to the marriage and wants to ensure that their financial contribution is taken into account, should there be a divorce in the future.
Post-nuptial agreements are entered into after marriage. They are often entered into if one party is to receive an inheritance with which they would wish to protect in the event of a divorce. Parties who have separated and intend to reconcile also find such agreements useful especially if a level of mistrust still remains.
At present, neither a pre nor post-nuptial agreements are, in the strict understanding of the term, legally binding. However, in the well-publicised case of Radmacher v Granatino  the Supreme Court held that, in certain circumstances, these agreements will be held to have decisive weight in deciding the financial terms of any divorce settlement.
In January 2010, the Law Commission produced a consultation paper proposing a number of options for reform, provisionally proposing that if marital agreements are introduced into law, the following requirements will need to have been met for them to be legally binding:
What prenuptial agreements provide is peace of mind and transparency from the offset. This is particularly the case if:
There are a number of ways of negotiating the terms of a marital agreement. At McAlister Family Law our team of experts are highly experience in negotiating and drafting such contracts.
If there are cross-jurisdictional issues that need to be taken into account while working on your prenup or postnuptial agreement, don’t worry: we have strategic partnerships with law firms in other jurisdictions.
For further information or to arrange a no obligation, free consultation to discuss your prenup or post nuptial agreement, then contact a member of the McAlister Family Law team today.Get in touch
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