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Why you should consider a marital agreement

The New Year is a time when people look forward to the future and for many couples it is when they start planning their lives together. More than 40% of all marriage proposals take place over the festive period with Christmas Eve being the most popular date of the year to propose! 

It is increasingly common for people planning a marriage or civil-partnership to enter into an agreement that shows what they intend to happen to their money and property should the marriage or civil partnership end. These agreements are commonly known as pre or post-nups and they are collectively known as marital agreements.

It is important to note that marital agreements are not currently legally enforceable in England and Wales. However, in 2010, a decision of the English Supreme Court determined that marital agreements are likely to be upheld in the courts, unless it is clearly unfair to do so. In my experience, a marital agreement is more likely to be upheld if its contents are reasonable, properly drafted with full disclosure, and both parties have received independent legal advice. 

 

The Law Commission issued a report in February 2014, following a consultation on marital agreements, which recommended that legislation should be enacted to introduce ‘qualifying nuptial agreements’. This would enable couples to make contractual and enforceable arrangements about the financial consequences of divorce or dissolution, which is backed up in law.

 

If the worst happens, having a marital agreement in place can save on time, heartache and legal fees in the future. 


We don’t want to pop your romantic bubble but after popping the question and popping open the champagne, pop and see your solicitor for some advice!!


For legal advice in relation to marital agreements or any other family matters, please contact Sarah on 01664 563162 or email .(JavaScript must be enabled to view this email address)


Oldham Marsh Page Flavell are Solicitors in Melton Mowbray.



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