Also known as a prenuptial agreement, is a legal contract that couples can enter into to determine how their property and assets will be divided if they separate or their relationship ends. It allows individuals to customise the division of their relationship property according to their preferences, rather than relying solely on the default provisions of the Property (Relationships) Act 1976. These agreements can outline how assets, debts, and other property will be distributed, providing clarity, and potentially avoiding disputes in the event of separation.
The agreement serves as a binding contract between the parties and can provide a clear understanding of their rights and responsibilities after the separation. While Separation Agreements are not mandatory, they are often recommended to establish mutually agreed-upon terms and minimise potential disputes during the separation process.
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