Look before you Leap - Safeguarding your most precious assets
As spring beckoned, Bramham Park Estate once again welcomed the elite of the eventing world to its International Horse Trials. Riders were spurred on by the well-worn eventing mantra to “kick on” to keep going despite their nerves or the obstacles that lay ahead.
It was here that bravery and intensity collided!
The crucial component for success was a combination of meticulous preparation and planning, as thousands watched that breath-taking demonstration of the ultimate test of partnership, endurance, and versatility.
So, what of the preparation and planning invested in our own partnerships? How do we protect what matters to us? What level of investment have we made in our own financial planning for what may lie ahead? Some ‘kick on’ regardless; others may agree, either before or after their marriage or civil ceremony, how they would divide their assets, wealth and family heirlooms should they “back the wrong horse” or fail to complete the course.
Pre-nuptial and post-nuptial agreements provide a unique pathway for autonomous future financial planning, clearly defining the financial arrangements and the parties’ intentions regarding the division of assets should they separate.
To be valid, these agreements must be entered into freely by both parties, without any undue pressure. This is particularly relevant in relation to the timing of a pre-nuptial agreement, which should be finalised no less than 28 days prior to the marriage or civil ceremony. Both parties must have a clear understanding of the implications of the terms and must fully disclose all relevant information with regards to any joint or individually owned assets, their value and any associated costs. Should undue pressure be applied, or should a party fail to provide relevant information or misrepresent the facts, the agreement may be invalidated.
You may have a pre-nuptial agreement that needs updating due to a change of circumstances. You may have recently inherited a large sum of money and wish to record how this should be dealt with in the event of a divorce or dissolution. You may simply want the security of knowing matters have been formally agreed between you.
What is the court’s approach to these agreements? Timing and execution are key. Provided specific requirements are met, such agreements are highly persuasive and carry decisive weight with the court. However, the court retains its discretion to ensure that the needs of either party and any children are not prejudiced by the terms of the agreement, should circumstances have altered significantly by the time of the dissolution or divorce.
Just as the Bramham riders relied on meticulous planning, your future deserves expert preparation. Emsleys provide tailored legal advice to protect what matters most. Whether navigating family changes or nuptial agreements, the Family Team is here for you. Contact us for a free 15-minute consultation on 0113 201 4902 or email us at family.law@emsleys.co.uk to help you “kick on” with confidence.
