We are planning to marry, and I own a business and a house that I would like to protect if the marriage ends. My fiancé is worried that a prenup will feel unromantic. How do these agreements work in New Zealand and will a court respect them?
In New Zealand, a prenuptial agreement is called a contracting out agreement under section 21 of the Property (Relationships) Act 1976. It can be entered into before or during the relationship. To be enforceable, it must be in writing and signed by both parties, and each party must have received independent legal advice, with the lawyer certifying that they explained the effect and implications of the agreement. Courts can set aside an agreement if giving effect to it would cause serious injustice. It is best to fully disclose assets, avoid signing close to the wedding when pressure may be claimed, and update it as circumstances change. A properly drafted agreement can clarify what is separate property and how relationship property will be divided.
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