Introduction

Think of nuptial agreements as a safety net in the unfortunate event of a happily never after. Ideally, nuptial agreements spell out how couples handle assets, debts, and other financial aspects in case things don’t go as planned.  

Kenya’s Take on nuptial agreements

In Kenya, prenuptial agreements are like that fancy coffee maker you bought—useful but not super common. The Matrimonial Property Act, 2013 recognizes prenuptial agreements under section 6(3). These agreements are drafted before parties say I do to decide who gets what if things go south. But don’t worry, the courts are here to make sure there is no monkey business and they set aside agreements influenced by fraud, coercion or ones which are manifestly unjust.

Postnuptial agreements, on the other hand, don’t have a specific rulebook in Kenya, but they can still be valid thanks to the general laws of contract.

Why consider a Nuptial Agreement

• Clarity is Key: Think of a nuptial agreement as a roadmap for your finances. It lays out who gets the toaster and who gets the TV, making things clearer if you ever need to part ways.

• Asset Protection: Got a million-dollar inheritance or a fleet of luxurious cars? A nuptial agreement helps keep your treasures exactly where you want them.

• Financial Planning: It’s like setting up a budget, but for love!

• Customizable: Every couple is unique, and so should be your nuptial agreement.

Essentials of a Nuptial agreement

1. Identification of parties: Names and details of both parties.
2. Purpose: A clear statement of what the agreement is for. No need to be vague—be specific!
3. Show and Tell: Full disclosure of assets and liabilities. Honesty is the best policy, even in legal matters.
4. Asset Division: Guidelines on splitting property and assets. Think of it as planning the great divide of your shared treasures.
5. Spousal Support: Details on any alimony or support. It’s like deciding who gets the last piece of cake—fairly and clearly.
6. Debt Duties: How debts are split. Debts are not fanciful for anyone, but it’s better to know who’s responsible.
7. Financial Roles: Decide who takes care of what, from bills to savings.
8. Inheritance Plans: Directions on how assets will be distributed in the event of a spouse’s death, including any provisions for wills or trusts.
9. Updating the Agreement: How to tweak things if life throws a curveball, like a new baby or a move to a new city.
10. Dispute Resolution: How to handle disagreements over the agreement. Think of it as a peaceful mediator for when things get tricky.
11. Legal Check: Making sure everything is above board with the law. No room for surprises here.
12. Sign and Seal: Signatures and witnesses to make it official. It’s like a wedding ceremony, but with a legal twist.
13. Legal Compliance: A nod that both parties have had their legal counsel. Just to make sure everyone knows what they’re signing up for.
14. Duration and Review: How long the agreement lasts and when to review it. Like a regular check-up but for your contract.

Conclusion

Whether you’re about to walk down the aisle or looking to adjust the terms of your shared journey, remember that a little planning now can lead to a smoother ride later.

For more information, please contact us at info@cfllegal.com