A Marriage Settlement Agreement is a crucial legal document used in England and Wales to establish clear financial and property arrangements between spouses. It provides certainty and protection for both parties by detailing how assets will be divided, managed, and protected during the marriage and potentially upon its dissolution. The agreement must comply with relevant legislation including the Matrimonial Causes Act 1973 and should be drafted with independent legal advice for both parties. It's particularly important for high-net-worth individuals, those with business interests, or couples seeking to protect pre-existing assets.
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1. Parties: Details of both spouses entering into the agreement
2. Background: Context of the marriage and reason for the settlement
3. Definitions: Key terms used throughout the agreement
4. Property Division: Distribution of real and personal property
5. Financial Arrangements: Details of financial settlements, including maintenance
6. Implementation: How and when the agreement takes effect
1. Children's Provisions: Used when there are children from the marriage requiring specific arrangements
2. Business Interests: Division or protection of business assets when either party owns business interests
3. Pension Arrangements: Division of pension rights when significant pension assets exist
4. International Assets: Handling of overseas property and assets when parties have international holdings
1. Schedule 1: Property Inventory: Detailed list of all matrimonial property
2. Schedule 2: Financial Disclosure: Complete financial disclosure from both parties
3. Schedule 3: Pension Details: Details of pension arrangements and division
4. Appendix A: Independent Legal Advice Certificates: Confirmation that both parties received independent legal advice
5. Appendix B: Valuations: Professional valuations of significant assets
Relevant legal definitions
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