Tax warning for separating spouses
Pre and Post Nuptial Agreement
Couples are increasingly opting to enter into a prenuptial agreement (often referred to as ‘pre-nup’) or postnuptial agreement (‘post-nup’). The agreements are used because couples wish to clarify what will happen to their assets and finances in the event of a divorce. Couples feel that a pre or post-nuptial agreement is likely to minimise disagreement on separation.
A pre-nup is used if the agreement is set up prior to the marriage and a post-nup used in the event that the couple are already married.
These agreements are in particular helpful in safeguarding assets which are inherited or where some assets are acquired prior to the marriage. Although not yet binding on the court, pre-nups and post-nups can be particularly helpful in the event of a divorce and they are one of the factors which will be taken into account by the courts. Our lawyers are able to give practical legal advice on the preparation of these agreements and also draft them for you.
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