It is sometimes sensible to give provision for the way in which a relationship breakdown will be handled, should the worst ever happen. You can protect both parties by agreeing to a Prenuptial Agreement.
It is possible to enter into a contract to manage the arrangements should a relationship breakdown whether you intend to marry or intend to live together. The position with the contract for marrying couples is that the agreement intends to alter the legal position and the jurisdiction of the court.
If you are getting married and you want to make formal provision for what will happen on the breakdown of your marriage, then you can enter into a Prenuptial Agreement with your future spouse.
In order to be enforceable, it is necessary that the contract to be entered into with knowledge of the financial matters as they are at the date of the marriage and with the benefit of legal advice in relation to your legal rights and obligations and how the contract/Prenup will affect them.
The process involves some element of consideration of what you both wish to happen on the breakdown and negotiations to reach an agreement on how that will work. The purpose is to come to an agreement that is fair and reasonable and which is indeed a mutual agreement.
If the agreement is made on the basis of knowledge and legal advice it is likely to bind you both. It is not possible to oust the jurisdiction of the court. However, an agreement prepared with full disclosure of each parties’ financial information and with both parties having legal advice, is likely to be upheld by the court if the court ever needed to be involved in a dispute about the validity of such an agreement.
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