Family Law and the over-50s
Second Marriages or Relationships – Family Law and the over-50s
Statistics in the UK show an increasing number of second marriages. At the end of any marriage, marital assets are divided up between the spouses. Ring fencing such assets, preserved at the end of a first marriage, is vitally important. If not protected, these assets can be further sub-divided, if the second marriage also fails. Entering into a Pre-Marital Agreement before re-marrying ensures that there is adequate and sensible forward planning.
Some couples decide not to tie the knot for a second time. Nonetheless, the Law provides a means for ring-fencing assets in an unmarried relationship, in a similar way to the Pre-Marital Agreements. For the unmarried couple, such an agreement is called a Living Together Agreement.
Children of a previous marriage or relationship
For couples who either re-marry or who live together following a divorce, it is also important to seek to protect the financial interests of children from a previous marriage or relationship. Provision can be made for the children of a previous marriage in the Pre-Marital Agreement or the Living Together Agreement, or through the process of making new wills.
