A Postnuptial Agreement is a formal written agreement entered into by a couple during marriage. It's purpose is to record the parties' intentions as to the division of the family's finances on separation and divorce. For use in England and Wales.
Postnuptial agreements are potentially binding provided certain criteria are met and the terms of the agreement are not manifestly unreasonable. This is the case even if the outcome does not reflect the decision a court would have made on divorce. The courts do have jurisdiction to determine that appropriate provision has been made for any child of the family despite any terms that may address this subject in the postnuptial agreement.
For a postnuptial agreement to be binding the following criteria must apply:
- there must be a full and frank disclosure of finances made by each party to the other;
- each party must obtain independent legal advice as to the terms of the agreement;
- there must be no undue pressure exerted on either party to sign the agreement.
It is sensible to update the postnuptial agreement should there be any significant change in the financial circumstances of either party.
This Postnuptial Agreement is suitable for use in England and Wales and includes the following clauses:
- separate property
- shared property
- determination of property type
- financial support
- schedule of the separate property of each party
- schedule of shared property
- guidance notes for completing the agreement are also included.