Love may conquer all, but sometimes life gets messy: especially when it comes to finances, children and, increasingly, our furry family members.  For those going for the long haul, whether married or not, being proactive from the start can save a lot of heartache down the line. 

And while the idea of discussing pre-nups, cohabitation agreements, or even so-called “pet-nups” might seem unromantic, these can actually be a powerful tool for setting the course and navigating long-term partnerships and avoiding future complications.

These agreements can be particularly important if one partner comes into the relationship with significantly more financial resources than the other, or if one has debts.  It can also set out property ownership and financial responsibility or help to protect inheritance rights where there are children from previous relationships.  

Planning for happily ever after 
For couples getting married in England and Wales, a pre-nuptial agreement allows you to establish clear financial arrangements for what would happen in the event of a divorce. This can include pre-existing assets like property, inheritances, or business ownership, but can also extend to future income, savings, and how debts will be handled.

Although prenups are not automatically legally binding in England and Wales, they will be persuasive to a court so long as they meet the qualifying criteria set in a landmark judgement by the Supreme Court and further reviewed by the Law Commission.  These include that the agreement must have been freely entered into, that independent legal advice was given to each partner before signing and that children should not be disadvantaged.   

Building a shared life
For those who choose not to marry, a cohabitation agreement is crucial if you’re co-owning property or planning to live together long-term. It can set out the financial contributions each will make towards shared bills and mortgage payments, responsibilities for maintenance, and what happens to the property if your relationship dissolves, or if one partner wants to sell.  If only one of you owns the property, the agreement can also make it clear whether it’s intended for the other partner to earn any right to a share or not, for example if they contribute to the mortgage payments.  

These agreements can go beyond finances to address practicalities like division of household chores, desired living arrangements in the future, and even how to handle potential differences. 

Fur-ever friends
While not legally binding in England and Wales, a “pet-nup” can give some reassurance to pet owners as it can offer a framework to sit alongside the property and financial arrangements covered by a prenup or cohabitation agreement.  The pet-nup can set out who will be the primary caregiver and how pet-related expenses will be split, both during your time together and in the event of a break-up.  And it can include who will take the pet on separation and what visitation arrangements there may be for the other partner.  

Family law expert Zhenja Cann here at Wollens said:  “Each of these documents – pre-nups, cohabitation agreements, and pet-nups – are not about anticipating a breakup. They’re about building a strong foundation for your relationship and protecting your future, both financially and emotionally. Open communication is key and being able to discuss your expectations and values beforehand is a great foundation for any long-term relationship. 

“So, don’t be afraid to have these conversations. It could be the smartest, and most loving, decision you make and for your furry friends it demonstrates a commitment to responsible pet ownership, even if things don’t work out romantically.”

She added:  “A solicitor will need to be involved in drafting a pre-nup for it to pass the ‘test’ at a later date.  It’s probably best to make sure any agreement is legally sound, and fair in the circumstances, by running your proposal past a lawyer, and then you can file it in a bottom drawer and hope it’s never used.  

“It may be an additional cost when you are moving house, getting married, or adding a furry companion to your lives, but it is like an insurance policy, as it can take away much of the worry about financial and emotional outcomes.”

A pet-nup setting out responsibilities could prove even more important with the recent changes to the law, requiring all cats and dogs to be microchipped and registered on a database.  Any owner who fails to do so could find themselves paying a fine of £500 if they don’t comply. The latest legislation applies to all cats aged 20 weeks and older, including indoor cats, and sits alongside the legislation introduced for dogs in April 2016. 

Speak to Amelia Smith

Amelia is a Solicitor at Wollens and can advise you. Contact Amelia via email Amelia.Smith@wollens.co.uk or call 01803 225170.

You can also complete an online enquiry form. One of the Wollens team will contact you as soon as they are available.