prenuptial agreements - Page 2

Please go to your post editor > Post Settings > Post Formats tab below your editor to enter video URL.
/

Top 10 Divorce Myths

Published on
Austin Chessell www.thedivorcemagazine.co.uk
Austin Chessell

Here are the  Top 10 Divorce Myths and Questions.

Aside from the questions below, we also talk about what is unreasonable behaviour – a question often asked by couples going through divorce.

  • Prenuptial agreements are only for clients who are high net worth?
  • Quickie divorce – Can my divorce be completed in less than a month?
  • If we get divorced will the court force me to sell my business?
  • When trying to sort out a divorce will I get a better settlement if I am aggressive and positional with what I am seeking?
  • Am I automatically entitled to spousal maintenance?
  • Do I need evidence for my divorce to be approved for unreasonable behaviour?
  • Can the court force me to sell the former matrimonial home?
  • If my spouse does not sign the divorce papers can I still obtain a divorce from the court?
  • Do we have to go to court to sort out the financial settlement?
  • The children are already suffering because of the divorce I don’t want them to go to court as this will be too much for them.

Austin Chessell is a Professional Practice Consultant (PPC) at FAMIA across Inner and Greater London.

 Austin is also a Collaborative Family Solicitor at Feltons Solicitors and is a member of the Collaborative Pod group Essex Family Solutions.

 Email: achessell@feltonssolicitors.co.uk

You might be interested in

prenup definition

Prenup Definition

Published on
prenup definition
Prenup Definition

What is a prenup?

A prenuptial agreement, also known as a premarital agreement, prenup or antenuptial agreement is essentially a contract between two people before getting marriage or entering into civil union.

The couple decide what content they would like to include in the prenuptial agreement which is usually the division of marital assets especially property, in the event of a divorce or break up of their marriage.

A postnuptial agreement or a postnup is like the prenuptial agreement except that it’s a contract entered into by the couple after the marriage or civil union has taken place.

You might be interested in

prenup definition

Child Custody and the Prenup

Published on
Karim Assad
Karim Assad
Divorce Solicitor
Cordell & Cordell

The Divorce Magazine recently got a reader’s question through regarding child custody and the prenup.  The enquirer wanted to know if, in the event of a divorce, child custody, child arrangment or guardianship can be included in the prenuptial agreement.

We put this question of child custody and the prenup through to Karim Assaad and this is what he responded that pre-Nuptial agreements should not be used when considering the arrangements for a child, as the interests change over the course of time.

Matters may arise which would render any agreement reached in relation to children by way of a pre-nuptial agreement entirely unsuitable and inconsistent with the best interests of a child or children of the family.

The best course of action if one finds himself not getting the time and contact with his children he believes is best, is often to simply start a formal action and get the process moving toward an enforceable order.

 

Karim Assaad is a London divorce solicitor at Cordell & Cordell. He has a wealth of knowledge and experience practicing family law, owning a proven record of providing indispensable advice to clients and delivering positive outcomes for them.

 

You might be interested in

what does marriage mean to you?

What does Marriage Mean to You?

Published on

What does marriage mean to you?

Rachel Donald
Rachel Donald

With the wedding season approaching, many of us will find our social calendars brimming with vows for the remainder of the summer months, not to mention the investment in wedding attire, presents and supportive pre wedding celebrations.

As a family lawyer, I can’t help but wonder whether many of the happy couples have given a great deal of thought to what marriage means to them from a legal perspective.

Why would they?

Every couple enters into marriage with the absolute belief that marriage is for life – “until death do us part”. It’s always the last thing on most newlyweds’ minds to even consider the possibility of their relationship breaking down and the financial impact that may have in years to come?

The Law Commission have recently issued a report recommending that more information is provided to couples before they get married so they are aware the financial implications marriage can have.

It is a sad reality that modern day Britain sees a very large proportion of marriages ending in divorce. And with rates on the rise as a society, we do not appear to be getting any better at staying together.

prenuptial agreement www.thedivorcemagazine.co.ukRecent studies suggest that married couples who make it to their 10th wedding anniversary are more likely to avoid separation. But conversely figures are rising for the so called ‘silver separators’ who are experiencing an increase in divorce following retirement.

People divorce for many different reasons but the one thing all divorcing couples have in common is that on their wedding day they had usually have very little knowledge, if any, about the legal implication of their commitment.

So, what if, the unthinkable happens and separation is contemplated?

After pooling together resources, sharing a life together and often raising a family, the idea of dividing the hard earned assets built up during a marriage is an emotional and daunting exercise for many separated couples.

What was the family home often becomes a major point of dispute. Suddenly the inheritance received by one or other of the couple during the marriage becomes an asset to protect as do the pre-owned item and chattels which one or both might have brought with them.

What about the family business – how will that be affected? How can the ‘pot’ be split?

The answers to many of these questions will depend upon the extent of the financial resources at their disposal: the first step towards a fair outcome has to be for each spouse to tell the other what they have, what it is all worth and what they each earn.

bride and groom - www.thedivorcemagazine.co.ukThe question is then how it could and should be shared. This is usually where an experienced family lawyer will ensure a fair arrangement is agreed in a constructive and amicable way.

If you have any reservations about the financial implications of marriage and the impact of a potential divorce, it is important to speak to a family lawyer and deal with any assets which you may wish to protect, such as family inheritance or a business.

It may be appropriate to enter into pre-nuptial agreements which are becoming a popular solution for many couples as they are now recognised in the English Courts.

So should we all know more about what we are entering into when getting married? Saying that there should be some legal guidance on this issue sounds very unromantic and I don’t want to put people off getting married, but I do think it’s important to know the implications of whatever endeavour we undertake so we can make informed decisions.

I have no doubt that for many of us marriage will continue to form the basis of our family units regardless of the legal implications.

But without wishing to give “something blue” to every marrying couple, would it not be better for everyone to know where they stand before saying “I do”?

 

Rachel is a Senior Associate in the Family Law Service at the city law firm Charles Russell LLP, based in the firm’s Guildford Office.

Charles Russell’s family team is within the magic circle of family lawyers and advise on domestic and international family law. Rachel specialises exclusively in family law and advises on all matters including divorce, civil partnership dissolution, pre-nuptial agreements, cohabitation and matters involving children.

Rachel has particular experience with high net worth financial cases, enforcement of matrimonial orders, cross jurisdictional maintenance disputes and appeals against the Child Maintenance Service.

Email: rachel.donald@charlesrussell.co.uk

Direct tel: 01483 252548

You might be interested in

Please go to your post editor > Post Settings > Post Formats tab below your editor to enter video URL.
//

Prenuptial Agreements Uk

Published on

Soila and  Austin Chessell discuss prenuptial agreements UK here.

  • Why have a prenuptial agreement?
  • What is a prenup?
  • Is a prenup legally binding?
  • When will a prenup not be upheld?
  • What is a post-nup?
  • Can you sign an pre-nup agreement after the wedding?
  • Can you do a DIY pre-nup?
  • What if a pre-nup is not fair? Can it be upheld?
  • Is there a standard prenuptial agreement form?
  • How important are prenuptial agreements?


Soila is the founder of The Divorce Magazine and creator of the online course – Helping Children Cope with Divorce

She is known for taking away the pain of trauma and loss in children, adolescents and their families and is the author of “When Love is Broken. A read-together book for children and parents going through divorce and separation.

Soila holds an MSc in Psychoanalytic Developmental Psychology from UCL (University College London), is an accredited Positive Parenting Program (Triple P) practitioner and a trained Family Mediator.

Soila is Graduate Member of the British Psychological Society.

You can contact her on 07850 85 60 66 or via email soila@thedivorcemagazine.co.uk 

You might be interested in

What is a Pre-nup?

Published on

Why you need a pre-nuptial agreement even if you’re not filthy rich

Ann Corrigan founder of Clarity Family Law
Ann Corrigan founder of Clarity Family Law

Nigella Lawson was glad to have entered into one before her marriage to Saatchi, whereas Dragon’s Den tycoon Duncan Bannatyne claims to have lost most of his wealth through his divorce because he hadn’t signed one before saying his vows the second time.

We’re talking pre-nups, of course. These formal pre-marital agreements are in the news again because the Law Commission is expected to propose this week that they become legally enforceable in Britain.

Ann Corrigan, specialist family lawyer and founder of Clarity Family Law in Buckinghamshire, gives the lowdown on pre-nups and explains why you should care – even if you’re not filthy rich.

 What is a pre-nup?

A pre-nup is a formal agreement/settlement entered into prior to marriage or a civil partnership.

It is used to set out who owns what at the time of the marriage and how the couple plans to divide these assets if they should split up.

Some people, including religious leaders such as Roman Catholic bishop, The Right Rev Mark Davies, argue that deciding how to separate before tying the knot undermines marriage, whereas others simply feel it’s unromantic.

what is a pre0nupHowever, the sad reality is that around 43% of marriages in the UK and Wales end in divorce and if you’re not prepared, you could find yourself in a very unenviable financial situation, as Duncan Bannatyne appears to have done.

A pre-nup is a good idea in most marriages – particularly as couples often tend to get married a bit later nowadays, which means they’re likely to have accomplished some wealth of their own by that time.

The idea of the agreement is to protect or ‘ringfence’ their individual wealth and/or any inheritances they may bring into a marriage, should they decide to separate.

It becomes even more important in the case of marriages/civil partnerships later in life or second marriages/civil partnerships where there may be children from a previous marriage or where one partner moves into the already-owned home of the other.

A pre-nup can contain more than just how to split your wealth – in the US they often contain clauses about how the couple should dress, how often they should exercise and even how often to expect sex!

Are pre-nups legally binding in the UK?

At the moment, no – and that is what the Law Commission is expected to propose next week – to make pre-nups legally enforceable.

But even now, since a landmark decision in Radmacher v Granatino, the court is likely to attach weight to such an agreement PROVIDED the following criteria are met:

  • If both parties entered into the agreement freely
  • If both understood the implications of what they were agreeing at the time
  • It is fair to hold the parties to the agreement

So, how can you make sure your pre-nup is upheld – as the law stands now

  • Obtain independent legal advice, which helps to show both parties understood the agreement.
  • Full financial disclosure (both parties should be 100% honest about what they own) to show that they were fully aware of the financial implications of the agreement
  • The agreement must be entered into freely to prevent one party alleging later that they entered into it under duress or undue influence.
  • Ensure it is realistic and fair
  • Provide for future changes – circumstances change, so most pre-nups should only be valid up until the birth of the 1st child or for up to 5 years.

This is a complex area of the law and one where taking specialist family law advice at the outset could save heartache and dire financial circumstances later on.

Ann Corrigan

Follow on Twitter

Don’t forget to follow The Divorce Magazine on youtube!

You might be interested in

1 2