Since the decision by the Supreme Court in 2010 which means that post-nuptial agreements can be enforceable, post-civil partnership agreements are now also potentially enforceable in England and Wales. Provided post-civil partnership agreements are entered into correctly, they are an extremely important part of a civil partnership, especially for high net worth individuals with a significant income and assets.
Post-civil partnership agreements allow people who have entered into a civil partnership to have greater control over what happens to their wealth, including their investments and their pension pot, in the unfortunate situation of a relationship breakdown.
In the event of the civil partnership breaking down with no pre or post-civil partnership agreement the court can decide how to share out your assets in a way that it deems to be fair, sometimes taking into account wealth brought into the civil partnership by one person. This could result in a 50:50 split of your assets. A post-civil partnership agreement gives you the chance to have a say about how your assets should be divided.
We can provide legal advice at any time throughout your civil partnership to make sure your assets are fully protected. Post-civil partnership agreements can take into account your financial situation including protecting your pension funds and investments and we can provide you with the correct legal advice so that your post-civil partnership agreement can be upheld by a court in the unfortunate situation of a relationship breakdown.
We also understand the importance of international assets within post-civil partnership agreements and can provide specialist advice with regards to this.
It is important that your post-civil partnership agreement is reviewed regularly to make sure it is still meeting both parties’ needs and is still fair. For example, it would be important to review it if you have a child.
We are able to advise you on your post-civil partnership agreement whether your relationship is breaking down or you just want to make sure your future is secure. Both parties will require independent legal advice and our expert solicitors at Austin Kemp can help you through the process, including negotiating those sometimes difficult discussions with the other party.
We are able to prepare a draft post-civil partnership agreement for the other party to consider or we can also review an existing agreement.
The process will take at least a month to complete (longer if you have significant overseas assets) and should not be rushed into without the correct legal advice for both parties and mutual financial disclosure as this can render a post-civil partnership agreement invalid.