Divorce and Your Finances - How to preserve your position

In times of economic hardship, as now, it is important that you ensure you are catered for financially. When money is tight, financial self-preservation kicks in and people become increasingly aware of how to save money, cut back on expenditure, and preserve the money you have. This kind of self-preservation kicks in even more strongly when you are going through a divorce.

Post-Nuptial Agreements
If you are still married, and have not yet decided to divorce, it is still possible to enter into a post-nuptial agreement. These are much like pre-nuptial agreements, which enable you to decide who gets what before you get married, but are legally binding documents that are entered into during your marriage and enforceable if you divorce.

This means that, in the event that you divorce, you and your partner already know exactly where you stand and you both end up with what you had agreed. With all agreements that are intended to be legally binding, you must be utterly honest about what you have and how much money you have got. If not, the court may not enforce it. If you are both honest, the agreement will be binding – even if the resulting effect is different to that which a court would have reached of its own volition.

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National Family Mediation Article - Divorce and your finances