A relationship breakdown does not need to signal the start of a long and fractious separation or divorce process. In fact we are now advising lots of couples on measures they can take to ensure that both sets of interests and assets are protected should their relationship come to an end, thereby reducing or eliminating completely some of the acrimony that can be involved. These measures include:
Cohabitation Agreements - This is a form of legal agreement reached between a non married couple when they decide to live together. Cohabiting couples have no rights to a share of their partner’s assets on separation no matter how long they have been cohabiting for or even if they have children. A Cohabitation Agreement therefore ensures that both parties’ assets are protected and, in the event of separation, assets are divided fairly and as agreed. With the number of cohabiting families on the increase, these types of agreement are becoming more and more popular and a necessity for modern day living.
Pre-nuptial Agreements - ‘Prenups’ can be especially appropriate for individuals bringing significant assets into a marriage or for individuals who already have children and wish to preserve assets for them should their new marriage fail. It is particularly important to consult expert legal advice when considering a prenup yourself or being asked to sign a prenup as you will need to think carefully about its future implications and understand the terms and conditions in place.
Separation Agreements - Separation Agreements are made by couples who have not yet made a decision to divorce or who are unable to do so at the present time. The Agreement sets out the financial arrangements a couple will put in place while they are separated and covers considerations such as who will pay the mortgage and household bills, who will continue to live in the family home, childcare arrangements and what will happen to items purchased jointly such as cars and furniture.
Our Family Law experts can advise on all of these agreements to ensure you make the right decision on how best to protect your assets.
If you have an enquiry or simply want to speak to a member of our friendly Team for further information and guidance, please use the request a call back or make an enquiry option to get in touch.