However, you might look at the statistics and consider the idea of reaching a valid marital agreement in the UK, as well as insurance for critical illnesses – unpleasant and hopefully unnecessary, but useful to have it in the worst case scenario. As we explain on our side on marital agreements, they can be a useful tool for pre-planning asset sharing in the event of divorce, avoiding the conflict and lingering uncertainty that can be included in traditional legal aid procedures. If you are considering a marriage pact or have already decided that you want to have one, we strongly advise you to speak to one of our local QualitySolicitors who will help you with all options and ensure that the agreement will have the best chance of facing court review. It is very important that both parties receive independent legal advice before entering into a marriage pact. This will allow them to fully understand the terms of the agreement and ensure that the weakest financial partner understands what they might give up. Both parties must also provide complete financial information. To help Ms. Radmacher protect her $106 million fortune in the event of adultery, the couple signed a marriage pact saying neither party would benefit the other financially in the event of an end to the marriage. There has been much debate in the political and legal circles as to whether this should be the case, but the judges expressed concern that, if they were binding, they would open the door to a party that would be disadvantaged if time, perhaps many years later, had come for a financial settlement after the divorce.
Our family rights team members have extensive experience in developing a marital agreement that makes detailed arrangements for asset sharing such as finance, pensions, businesses and real estate. For a confidential consultation today, email us [email protected] or call us now on 0114 358 9009. Once your marriage contract is established and you and your partner are both satisfied, the hope is that you will get married and never have to think about it again. Pre-marital agreements allow couples to decide how to distribute their assets when they divorce We`ll take a look at when a marriage is a smart idea and if you should have one if you tie the knot in the near future. More and more people have kept in touch with us when it comes to marriage contracts or “prenups”. However, as you are looking for information about marriage contracts, we assume that there is an agreement and that you must include it in a legal contract. With 42% of marriages in the UK ending in divorce, more and more people are considering pre-contracts, especially those who marry a second time. Although prenups are not legally binding, they are considered by the courts and, in most cases, confirmed. If the marriage is long, then without a conjugal agreement, it is likely that the court would share all the property equally. However, it is important that the agreement is properly prepared.
Once your marriage contract has been established by your lawyer and both parties are satisfied, the agreement becomes a legal contract. Marital arrangements are only suitable for couples if one half of the couple has many more assets than the other. In other words, if the agreement is considered fair, the court will uphold it.