Top Ten Marriage Tips and Traps
With 42% of marriages ending in divorce and around 40% of couples who cohabit separating before their tenth anniversary, family law is a subject matter that many will experience. If you are thinking about entering into a relationship or plan to marry, it is important you have a basic understanding of your rights and how you can protect yourself should things go wrong.
Top 10 Tips & Traps
1.The ‘Common law’ marriage myth
Unmarried couples do not acquire the same or similar rights to a married couple, there is no right to be maintained by your partner and you have no automatic right to any of their assets. However, protective measures can be taken:
- You can enter into an agreement that sets out what financial provision will be made on separation.
- Before buying a property together, decide the shares in which you will own the property and set this out in a formal legal document.
- As a cohabitant, you have no automatic right to inherit from your partner’s estate on their death. It is therefore vital to make a Will.
Prenuptial agreements are contracts before marriage stipulating how a couple’s assets should be divided on divorce.Pre-nups are not currently legally binding, although it is anticipated that the law will be changed. However, as things stand, they can significantly influence a financial settlement awarded on divorce.
To divorce, you must have been married for one year and prove that the marriage has irretrievably broken down. This must be proven by relying on one of five facts, most commonly unreasonable behaviour or adultery.
If the divorcing couple are foreign nationals, or either or both live abroad, it is essential to consider the choice of jurisdiction.Speed is vital in cases involving another European Community country, since the divorce will be dealt with wherever proceedings are issued first.
There’s no automatic entitlement to an equal share of assets.The court has a wide discretion when deciding the financial settlement. Each case is decided on its own facts.
If there is a suspicion that one spouse is trying to hide or dissipate assets then urgent action, such as obtaining an injunction, can be taken.
7.Inherited and premarital assets
If there are insufficient assets to meet both parties’ needs, then the fact that an asset has been brought into the marriage or inherited during the marriage by one party will carry little, if any weight.However, in big money cases, the nature and source of the asset may be a good reason to adjust the financial settlement.
Trusts will be taken into account if the court sees them as a resource now or in the foreseeable future.
It is the parents’ responsibility to try and settle the arrangements for their children and only involve the court if this cannot be achieved.
10.Alternative dispute resolution
There are many alternatives to going to court, including negotiation between solicitors, mediation, collaborative law and arbitration.
For advice on any Family Law matter please contact our Partner and Head of Divorce and Family Law, Tracey Dargan.
Please note the contents of this blog are given for information only and must not be relied upon. Legal advice should always be sought in relation to specific circumstances.