Why would anyone want a postnuptial agreement?

The discovery of an affair, concern about an inheritance being squandered or pressure to protect your business interests are all reasons to consider making a postnuptial agreement. 

Like a prenuptial agreement, a postnuptial agreement can be used to agree in advance what should happen to assets owned by you and your spouse or civil partner should the relationship fail.

Robert Bellhouse, family law expert with Ware & Kay Solicitors in York & Wetherby explains:

‘Postnuptial agreements are similar to prenuptial agreements in that they enable couples to decide in advance of a problem arising how their affairs should be dealt with if they decide to divorce or dissolve their civil partnership.  The advantage of making advanced decisions’, says Robert ‘is that you can do so while you have a level head and without worry that your judgment may be clouded by the emotional turmoil that often consumes us when a relationship falls apart.’

A postnuptial agreement might be advisable, when one or both of you:

• has substantially more capital or income than the other;
• wants to protect pre-existing assets, such as a personal inheritance or entitlement to funds from a family trust;
• are involved in a business which you agree should not be broken up to fund a divorce settlement;
• wants to restrict what should and should not be classed as ‘matrimonial property’ and therefore be up for grabs when financial arrangements are being finalised;
• has children from a previous marriage or relationship who you agree ought to be financially supported or receive a set inheritance; or
• owns property in a foreign country.

Postnuptial agreements can have persuasive value when it comes to finalising arrangements on divorce, particularly where the agreement can be shown to have been freely agreed to and where the provisions made are fair.

Please contact Robert Bellhouse on 01904 716062 or email robert.bellhouse@warekay.co.uk for more information.