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Same sex couples now have to all intents and purposes, the same rights, obligations and entitlements as those that heterosexual married couples have enjoyed since the Matrimonial Causes Act 1973 came into effect.
Before entering into Civil Partnership, you should consider the same financial forward planning, which heterosexual couples have been able to put in place before marriage, for many years. A Pre-Marital Agreement, in the case of a heterosexual couple, gives the parties to the marriage an opportunity to protect their pre-acquired assets, in the event that the marriage does not stand the test of time. Civil partners can protect their pre-acquired assets in exactly the same way. A Pre-Civil Partnership Agreement is the same as a Pre-Marital Agreement, in all but name. It sets out what each party's financial circumstances are before the registration of the civil partnership. It sets out what each party would like to happen, so far as those assets are concerned, in the event that the partnership is dissolved, through "divorce".
Case law governs the use of Pre-Martial Agreements, and in effect it is recognised that providing;
- each party gives full and frank disclosure of their financial circumstances;
- each party obtains independent legal advice;
- the Pre-Martial Agreement is entered in to in good time before the marriage (not the day before),
then there is every chance that a Court will give effect to the parties' wishes in the event that the relationship ends in divorce. In the case of Civil Partnerships, providing a couple follow these guidelines, there can be no reason why the Court would not follow the parties' wishes and apply the terms of the Pre-Civil Partnership Agreement.
Preparing a Pre-Civil Partnership Agreement is a relatively straightforward procedure. It gives each partner to the Partnership, financial peace of mind. It is a form of insurance; we would not think of going on holiday without taking out holiday insurance to cover any problems if the holiday goes wrong. Holiday insurance does not jinx the holiday. A Pre-Civil Partnership Agreement will not jinx the Civil Partnership.
Solicitors have been drawing up Pre-Marital Agreements for heterosexual couples for many years. The procedure is the same; it represents sensible forward financial planning.
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