If you want to document the joint ownership of your home, and other assets, with your spouse or partner Blacks Solicitors’ Family Law team can help.
Pre-Marital Agreements and Pre-Civil Partnership Agreements
Are you planning to marry or enter into a civil partnership, and want to protect your finances in the event of a divorce or dissolution?
If you are considering marriage or a civil partnership, it is worthwhile considering a Pre-Marital Agreement (prenup) or a Pre-Civil Partnership Agreement (precip).
Pre-Marital Agreements are not yet 100% binding in this country but in recent years the Courts have started to give them ‘decisive weight’ and have held many agreements to be fully-binding, subject to compliance with certain guidelines.
Prenups and precips are particularly worthwhile if one party has significant assets prior to the marriage or civil partnership and they wish to protect their assets. They are also useful where a couple are independently wealthy and they wish to keep their finances separate, irrespective of the marriage or civil partnership.
If you have already married it is possible to put in place the equivalent of a prenup, which is known as a Post-Nuptial Agreement (postnup).
Declarations of Trust
Do you want to stipulate what share of a house you own when it is not a straightforward 50/50 split?
If you are unmarried, buying a house together and looking at making unequal contributions towards the purchase price then our Family Law team can advise and assist in drawing up Declarations of Trust.
A Declaration of Trust stipulates how the proceeds of sale would be divided if you split up. Without this, the presumption is that when a joint property is sold the proceeds are split equally, irrespective of how much each of you contributed towards the deposit.
Are you planning to cohabit with your partner and want to put in place a formal agreement to regulate your financial rights and responsibilities?
For unmarried couples this can include drawing up Cohabitation Contracts, setting out how assets should be divided if you split up, and can sometimes include a framework for how you will deal with issues that crop up together during your relationship with your partner.
A properly drafted Cohabitation Contract can mean that areas of potential dispute on separation are reduced or eliminated.
For more information about how Blacks’ can help with any of the above, or for a no obligation discussion, please email or call our Family Law team today on 0113 227 9285.