Is a prenup part of your wedding planning?

Hotels and wedding venues are busy hosting wedding fairs and gearing up for the wedding season, with everyone focused on the details of the big day, from the colour scheme and menu to the choice of attendants and music. One other thing which now appears on a wedding checklist is discussion of a prenuptial agreement, especially when it is a second marriage, if there are business interests, or where the ‘Bank of Mum & Dad’ is helping with a deposit for a property. Nobody plans a wedding with separation in mind, but according to the Office for National Statistics, in 2021 the most common duration of marriage for opposite-sex couples was 8 years, for male same-sex couples it was 5 years; and for female same-sex couples it was 4 years. ‘A prenuptial agreement provides a…

Spring employment law round up

"Other than the usual April updates to statutory rates, it looks deceptively quiet on the regulatory front for employers. But the end of the year could see the biggest shake-up in employment law for years as a consequence of Brexit," explains Kalpesh Nakeshree, Head of Employment Law with Ware & Kay. Kalpesh highlights the key changes to rates, and looks at the extra bank holiday, a raft of private members’ bills aimed at seeing through earlier government commitments, a consultation on a statutory code on ‘fire and rehire’ and a couple of topical cases. Increase in statutory rates Employers should prepare for increases on the following dates: 1 April 2023 – national minimum wage Increase in the national living wage for workers aged 23 and over from £9.50 to £10.42 per hour. Increase in the…

Selling a property after someone has died

When someone dies, all their belongings and property vest in their personal representatives who must enter into any agreement to sell the property and sign the necessary transfers, which are called ‘assents’.  ‘Selling a home or holiday home when someone has died is similar in many ways to a conventional property transaction,’ explains Holly Stevens, Director & Head of Residential Property with Ware & Kay in York. ‘However, there are some important differences and additional procedures you must follow. This can mean a sale takes longer or is more complicated, but there is a lot you can do to make things easier.’ Check you can deal with the property Ideally, your loved one will have made a will and their wishes will be clear. If you are named as executor, you may decide to renounce this…

Do you need a freezing injunction to protect marital assets?

Once a relationship has broken down, while many couples remain on good terms, sometimes the situation is irretrievable and behaviour can go beyond what is acceptable or legal. In particular, disputes over who gets what in the financial settlement can prompt underhand dealings with the wealthier partner attempting to conceal assets or reduce their value.  For example, they may build up debts (personal and/or business), or deliberately squander money in gambling or expensive trips that they did not participate in before. You might be worried that they are giving away valuable art or antiques. ‘If you are worried that your spouse is hiding, selling, or otherwise getting rid of assets to prevent you getting your fair share in the financial settlement after your divorce, then there are legal steps which you can take to protect…