![]() Pension pots of both spouses generally form part of the overall matrimonial pot.īut pension offsetting can be used to protect the pension of either spouse during divorce negotiations if they can agree to use alternative matrimonial assets to offset against their pension, either spouse can retain their pension in its entirety. ![]() This is essentially a contract, entered into before marriage, which sets out how the assets of each party should be divided up in the event of a divorce.Ĭurrently, prenuptial agreements are not legally binding in England and Wales, but they are in Scotland.Īlthough courts are not forced to follow the instructions contained in prenups in England and Wales, they will often seek to uphold them if they were entered into correctly. How can I protect my money or property before marriage?Ī prenuptial agreement can go some way to protecting pre-marital assets. In particular, if pre-marital assets were used to purchase a family home, these will often be considered as having been converted to shared assets.īut there is also an overriding objective to ensure that the financial needs of both parties are covered as far as possible – particularly if there are any young children involved.Īs such, if shared matrimonial assets are insufficient to meet the needs of husband and wife, the court will be more likely to consider adding pre-marital assets to the overall pot. This so-called ‘mingling’ of assets makes it more likely that all assets are added to the matrimonial pot, irrespective of where they originally came from. Often pre-marital assets will end up becoming intermingled with matrimonial assets over time.Įventually, this will make it more difficult to distinguish whether assets were acquired before or after marriage. The longer the marriage, the more likely it is that any pre-marital assets will be added to the matrimonial pot and therefore need to be split fairly as part of the financial settlement. In a long marriage, where either party brings pre-marital assets into the marriage, these assets will gradually move into the realm of shared matrimonial property. It will often be difficult to determine which assets were accrued before, during, or after the marriage.īut even if this can be determined, there are various factors that a family court will consider when making a decision about which assets should be added to the overall matrimonial pot, notability of passage of time, and mingling of assets: Passage of time Parties entering into the marriage may have inherited assets or simply accrued them over many years before getting married.īut can these pre-marital assets be protected in the event of a divorce and if so, how can it be done? How does the court look at pre-marital assets? ![]() Significant assets will often be brought into a marriage by either the husband or wife, especially as more people are now getting married later in life. ![]()
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