• Overview
• FAQS
• • When do I need an agreement?
  • Is the agreement legally binding?
  • When might an agreement not be upheld?
  • How long will it take?
  • What if the other person won’t cooperate?
  • Do I need to make a Will?
  • How much will it cost?
• Contact FLC

Agreements & Deeds: FAQs

When do I need an agreement?

Whilst it is difficult to provide an exhaustive list of the situations where an agreement is necessary, the following examples may be of assistance:-

If you are intending to live with someone or you are getting married, especially if you are bringing an asset to the relationship, such as money or property which was pre-owned, then you should enter into an agreement to protect the pre-owned asset. If you are not bringing an asset to the relationship, then the agreement can confirm respective future rights in relation to financial issues.

Equally, if you are living with someone and the property in which you are living is owned by only one party, then you should enter into an agreement to define what interest, if any, each party has in the property.

If you are living with someone and it is agreed that a particular asset should be shared on the basis of certain conditions, such as each of you paying equal financial contributions towards the purchase of the asset, then the conditions ought to be recorded in an agreement.

Finally, if you are separating and you have come to an agreement regarding the division of any assets, then this agreement should be formally incorporated into a written agreement. Where appropriate the above agreements can also be used to record arrangements for children.

Is the agreement legally binding?

There has been significant development in this area of law recently and agreements are now more persuasive upon the court than at any time before. If an agreement is in place then the first question for the court is to ask why the agreement should not be upheld. Ultimately, it is within the court’s discretion whether to uphold the agreement, and if it does so, then the agreement will be legally binding.

When might an agreement not be upheld?

If an agreement is unfair, or if the agreement does not make adequate provision for any child of the relationship then it might not be upheld. If the proper legal formalities have not been complied with then again, the agreement might not be upheld. Clearly therefore, it is important to obtain specialist legal advice when entering into the agreement.

How long will it take?

We can draw an agreement up as quickly as you like although agreements should not be hurried as this can affect their persuasiveness. We can give specific advice regarding the legal formalities upon your instructions. In the case of pre-nuptial agreements it is important to note that the agreement must be signed at least 21 days prior to the date of the marriage.

What if the other person won’t cooperate?

As the term ‘agreement’ suggests, the other person cannot be compelled to enter into an agreement. If however, the other person is reluctant to enter into an agreement then it is probably better to reassess your position sooner rather than later.

Do I need to make a Will?

If you are resolving family matters, it is a good idea to consider preparing or updating your Will. In addition to ensuring that your money passes to the people you choose, a clause can be inserted to appoint guardians to care for any child(ren) in the event of your death.

How much will it cost?

Generally, we are able to offer a very competitive fixed fee for agreements: