In February – the month of love – we explore seemingly unromantic but practical legal tools that clarify parties’ rights and obligations towards each other as they contemplate a lifetime together. As family lawyers with front row seats to the breakdown of many relationships, we believe that these legal instruments are the ultimate expression of love and respect for your partner and they should be seriously contemplated throughout the course of your relationship.

In some relationships, there may come a time for a formal reset and re-alignment of expectations. Post-Nuptial Agreements (“PNA”) are formal agreements entered into by married couples with varying objectives. For some couples, PNAs may be helpful in restating their financial plans, protecting individual assets, or clarifying parental or financial responsibilities. More commonly, couples may decide to execute a PNA where there has been or in anticipation of a material change of circumstances. This ensures that both parties continue to have a mutual understanding of their respective responsibilities towards each other during the marriage, or in the event of a divorce.

Why You Should Consider a PNA

Married couples are encouraged to sign a PNA for the following reasons:

1. Clarifies financial matters such as the management of marital assets, significant inherited assets, spousal gifts, debts and financial responsibilities during the marriage;
2. Accounts for significant life events such as the birth of a child, a career change, or relocation to another country;
3. Facilitates fairness by allowing couples to preemptively agree on terms surrounding the division of assets, spousal and child maintenance, and custody, care and control of the children in the event of a separation or divorce;
4. Protects individual assets (personal, business or family assets; whether acquired by either party before or during the marriage) from being subject to division in the event of a divorce;
5. Preserves and safeguard generational wealth for individuals from families with substantial inherited wealth; and
6. Serves as a foundation for couples to reconcile where there has been an erosion of trust due to infidelity or financial mismanagement.

Broaching the Idea of Signing a PNA

Introducing the idea of signing a PNA to your spouse, especially where there is a material change in circumstances, requires sensitivity and clear communication. Emotions may be heightened and trust may need to be rebuilt. We would encourage the couple to reframe the PNA as an opportunity to rebuild commitments, shifting the focus from accusation to collaboration. Ultimately, a PNA enables the couple to promote transparency in their relationships through open communication.

Whilst broaching the idea of a PNA may seem difficult, our lawyers are able to assist you in transforming difficult discussions into opportunities for healing and growth.

If you or your spouse may wish to explore signing a Post-Nuptial Agreement, please schedule a Consultation with our lawyers today.