PRE-NUP – WHAT’S THAT ? DO I NEED ONE ?

With the romance of Valentine’s Day now behind us, let’s talk again about the practical aspects of our relationships.

With the unavoidable increase in divorce and separation rates, it means that more of us who are getting married or moving in together are not “first timers“. Not only that, either one or both parties may have children from a previous marriage. This can mean ongoing financial ties to an ex-partner and possibly having a home or assets to bring into the new relationship.

So it’s  more important than ever for couples to take a small step back from the romance of their new relationship or wedding plans and think about the practicalities. If they are about to start living together, or planning to tie the knot, they should take legal advice on having a Cohabitation Agreement or Pre-Nuptial Agreement.

These don’t have to be long or complicated documents. The aim is to record what can be agreed amicably straight away, to cover what would happen if you ever did split up:-

  • Do you get to keep the property you brought into the relationship ?
  • Do you have to financially support one another after separation ?
  • How do you split anything held in joint names ?
  • Do you have to share any debts ?

The idea of considering a pre-nup early on is to avoid the time, anxiety and cost of a complex legal battle further down the line. Of course no-one has a crystal ball and your thoughts on how assets should be divided between you may change if you are married for many years, or if you have children together but in that case, no problem – you simply agree to review the terms of the Agreement on certain “trigger” events.

If you would like more information on having a Cohabitation or Pre-Nuptial Agreement drawn up please contact

Enfield:  

Vijaya Sumputh

0208 363 4444      vijaya.sumputh@curwens.co.uk

Hoddesdon/Royston:

Amanda Thurston 

01992 463727       amanda.thurston@curwens.co.uk

Curwens LLP is your local firm of solicitors offering you expert legal advice when you need it most.

Offices in Royston, Hoddesdon and Enfield.

www.curwens.co.uk

 

 

WHAT IS FAMILY MEDIATION?

The start of a new year is often a tricky time for families – has this been a stressful Christmas period? Has spending too much put pressure on family finances and inevitably on relationships? Has the extra time off work meant there’s been time to reflect on the reality of marital issues?  In the new year, couples often make new year’s  resolutions and one of those could be that they should face up to their difficulties and get professional help to resolve them.  Before they rush off to Court, specialist family lawyers always recommend looking at mediation.    Amanda Thurston, Head of the Family Law Team at Curwens Solicitors explains :

“A recent “fly on the wall” documentary followed a family mediator helping couples agree the terms of their separation or divorce. From whether to sell the family home, to how much maintenance to pay, or how often one of them can take the children on holiday, splitting up a family can be a minefield.

So how does Mediation Work?

The first thing to remember is that mediation is voluntary, so both parties need to agree to try it out and also which mediator to approach. The Mediator will then usually want to speak to each party individually before setting up meetings for everyone to attend. Each party gets the chance to raise the issues or concerns they have and the Mediator will try to get the other party to listen to them before expressing their own views. The Mediator will also help the parties discuss the family finances and agree on what information and documentation they each need to provide to help with the negotiations.

These meetings can be stressful if agreement is not easily reached on a point, but the Mediator is specially trained to deal with those situations. They can even do “shuttle mediation” with each party in a separate room if the parties’ relationship has got to the stage where they can’t even be in the same room as each other.

Between the mediation meetings each party should ideally obtain independent legal advice so they know what terms would be reasonable to propose or accept.

If terms can be agreed between the parties, the Mediator will provide a written Memorandum of Understanding. This is not yet legally binding – but is evidence of what you have discussed and agreed. You can then take it to family solicitors to be made legally binding if you wish.

If the mediation breaks down, the Mediator can sign a form for the Court, to allow one of the parties to start Court proceedings.

Mediation Information and Assessment Meeting (MIAMS)

There is currently a requirement in place that you must at least attend a MIAMS before starting most Court proceedings regarding children and/or finances, to find out whether Mediation would be suitable for you. (There are certain exemptions in place – for example if it is an urgent case)   The MIAMS is a one to one meeting with a Family Mediator who explains all the alternative routes available to you to try and resolve the dispute without starting Court proceedings. The aim is to ensure you are fully informed about all your options and you understand what would work best for your situation.”

 

If you would like more information on Mediation, please contact

the Curwens Family Law Team:

Royston                   Amanda Thurston              01763 241 261

Hoddesdon              Kristina Nickoli                    01992 463 727

Enfield                     Vijaya Sumputh                   0208 363 4444

 

www.curwens.co.uk

Curwens have offices in Royston, Hoddesdon and Enfield.

 

“Money, money, money – must be funny – in a rich man’s world…….”

We’ve all heard of pre-nups for the rich and famous but those of us who live more “ordinary” lives also should think about finances when going into a relationship and, sadly, if things start to go wrong – don’t let “heart rule head”.  I’m grateful to my colleague, Vijaya Sumputh, a Family Law expert at Curwens Solicitors, for her thoughts on this :

PROTECTING YOUR FINANCES FOLLOWING A RELATIONSHIP BREAKDOWN

Beginning a new relationship can often feel like entering uncharted waters. All you want to do is to live happily ever after with your new partner, but people often don’t consider what happens if the relationship ends.  A split can have a devastating emotional impact and financial uncertainty adds significant stress to an already difficult time.   A recent study suggests that as many as 2 million Britons are in debt because their ex-partner continued to spend after they’d separated – a “dirty separation trick” by a bitter “Ex”.

Married Couples

Here, the Court has the power under the Matrimonial Causes Act 1973 to split the debt between the two parties based on their financial needs and the Court may award more to the paying party including spousal maintenance to cover the repayments.

Unmarried Couples

There is no such protection for unmarried, cohabiting couples. In long term relationships, many couples set up joint bank accounts (even if marriage is not their immediate plan) to cover mortgage/rent and bills. This normally ends once the relationship comes to an end, because living with someone does not create a legal relationship.   So, if a couple has a joint debt and then splits up, both can end up being liable for the debt and one may be stuck with it if the other party doesn’t pay.  Unmarried couples must think about what happens to their investments if they split up – if the family home is to be sold, how will the proceeds be split ?

Protection

You can protect yourself by getting your solicitor to draft a “Cohabitation” or  “Living Together” agreement (also known as a deed) which sets out who pays what and what would happen to the assets if the relationship comes to an end, with a Declaration of Trust as to the ownership of the house.  You can also consider using Mediation or negotiation to resolve issues.

It may seem pessimistic to think about a relationship ending when you’re just starting out together, but on the other hand, a break up can be devastating emotionally, so a living together agreement helps with the practical issues, to reach a quick settlement.

If you think what I have described fits your circumstances, do give Vijaya a call for a no obligation chat on 0208 363 4444 or e-mail us at vijaya.sumputh@curwens.co.uk