SEPARATION FINANCES - POSTNUPS (Post Separation Agreements)
A Post Separation Agreement is an agreement entered into after the breakdown of a marriage of civil partnership. It usually sets out how the house(s), money and other assets will be divided now that the marriage or civil partnership has come to an end.
Post Separation Agreements (post nuptial agreements) tend to be entered into at or shortly after the time when the relationship has finally ended. Notwithstanding the difficulty that most people experience focusing on the issues during such an emotionally charged period in their lives, post separation agreements are becoming more widely entered into due to the increasing costs of pursuing matters through the Courts.
Arriving at a agreement about finances with an ex spouse can be achieved via many different methods. Some people are able to communicate with each other directly. Others access mediation services and find the slightly more formal approach helpful.
Whether its through one to one negotiations, carefully drafted letters or the use of intermediaries, any agreement about finances following the breakdown of a marriage should contain certainty not only as to the terms of the agreement but also as to the validity of the agreement itself. It is only through having that certainty that the true purpose of a post separation agreement be achieved; peace of mind.
Sadly it is not rare for ex spouses upon separation to agree how to divide the finances and assets, only then for one of them years later to apply to the Court for a financial order seeking more. A carefully drafted post separation agreement document can’t stop somebody from asking the Court to do this, but it can render such a request futile.
Imagine the following that there exists a bomb. You do not have the power to stop the bomb exploding but you do have the mechanism to ensure that if the other side does ever decide to detonate it, it has no significant destructive force. That is exactly how a post separation agreement works.
Considerable care needs to be taken when drafting the document however. Dependent on what is agreed within them, post separation agreements may be viewed by a Court as binding. In such a situation however, the Court may also view them are variable. Other agreements contained within post separation agreements may not be binding but may then subsequently be completely endorsed by a Court.
I draft a post separation agreement document to ensure that it satisfies your requirements not only now, but in the future. What is sought is peace of mind. A carefully drafted post separation agreement can provide it.
If you have recently separated or are contemplating it and would like to simply explore your options then call me on 0113 227 0708 to arrange a meeting.