Fiona Wood, Partner at McAlister Family Law, discusses why post-nuptial arrangements are important for business owners.
A Post-Nuptial Agreement is an agreement between a married couple detailing what should happen to their assets if they divorce. It is similar to a Pre-Nuptial Agreement, except that the couple sign it after they are married and not before.
Post-Nuptial and Pre-Nuptial Agreements are not legally binding if a couple divorce, but they are an important factor that the court will take into account when deciding what a fair financial settlement is for a divorcing couple. The court is likely to follow the terms of the Post-Nuptial Agreement, or at least order a lesser financial settlement for one spouse than if there were no Post-Nuptial Agreement, provided that both spouse’s needs are met.
Read Fiona’s full Ask The Expert here…
