Family Law

Financial Agreements

Thankfully, changes to legislation in recent years, together with a number of leading cases, mean that when financial agreements are prepared properly, these types of contracts are legally binding and given substantial weight by the courts.

They include contracts such as those referred to commonly as “pre-nups”, post separation financial agreements, and contracts (before, during or after separation) in which parties agree to exclude certain assets such as houses owned before the relationship began, gifts or inheritances). The terms an agreement will be upheld by the court of challenged provided that the following facts [inter alia] can be proven:

• Both parties each received independent legal advice before entering into the agreement;
• No party was under duress at the time the agreement was made;
• The agreement is signed by all parties.

We deal with many cases involving marital agreements and have extensive experience in preparing them. At the Summit Law Group, we provide fully comprehensive, written legal advice as to the advantages and disadvantages of entering into any type of Binding Financial Agreement before you sign it.

We do sign Certificates for a Binding Financial Agreement after only a short consult (as occurred in the case of Purdey & Millington) or at a first appointment. The case of Purdey & Millington highlights the importance of ensuring all parties doing all things necessary to ensure the Agreement will be upheld if it is called into question by the Court.

For more information, contact us today and arrange your obligation free consultation.