Pre-marital and Pre-Civil Partnership Agreements
Although almost everyone can identify with the initial expectation that partnerships or marriages should last for the long term, sometimes these things are not meant to be. Put simply, pre-marital and pre-civil partnership agreements set out what the two parties would expect to happen if their relationship were to end. Although the titles of the contracts are slightly different, their content is actually very similar. Both arrangements provide an opportunity for each person to protect or respect the other’s separate assets that were acquired before the new partnership ceremony or planned marriage takes place.
What is a prenuptial agreement?
Also known as pre-marital agreements (or pre-civil partnership agreements for same-sex couples), prenuptial agreements are another term for contracts which two people sign before formalising their relationship. Although not strictly enforceable, pre-nuptial contracts tend to carry much more weight nowadays. Most specialists and many people view such contracts as a practical measure; certainly, the courts are increasingly taking notice of what is known as collaborative law and becoming a common part of modern financial planning. A prenuptial contract may be a good way to ring-fence a parental loan for a house deposit, for instance, or to set family or children’s trust funds apart.