Matrimonial Agreement Template for New Zealand
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What is a Matrimonial Agreement?
A Matrimonial Agreement (also known as a Prenuptial Agreement or Contracting Out Agreement in New Zealand) is essential for couples who wish to opt out of the default property division regime under the Property (Relationships) Act 1976. This document is particularly relevant for parties entering marriage or civil unions who want to protect existing assets, manage business interests, or establish clear financial arrangements. It must be drafted in compliance with New Zealand law, requiring independent legal advice for both parties and full disclosure of assets and liabilities. The agreement typically covers classification of separate and relationship property, treatment of future acquisitions, debt allocation, and arrangements for potential separation or death. It's commonly used by couples where one or both parties have significant assets, business interests, expected inheritances, or children from previous relationships.
About the Matrimonial Agreement
A Matrimonial Agreement allows you to take control of your financial future by opting out of New Zealand's default relationship property laws. Under the Property (Relationships) Act 1976, relationship property is generally divided equally when relationships end, but a properly executed matrimonial agreement lets you establish different arrangements that better suit your circumstances.
When do you need this document?
You should consider a matrimonial agreement if either party brings significant assets into the relationship, owns a business, expects an inheritance, or has children from previous relationships. It's particularly valuable when there's a substantial difference in wealth between partners or when one party has professional qualifications that may generate future income. The agreement is also essential if you want to protect family property that has been passed down through generations or if either party has significant debts that you don't want to become shared liabilities.
Key legal considerations
Your matrimonial agreement must include full disclosure of all assets, liabilities, and financial circumstances by both parties. The document should clearly define what constitutes separate property versus relationship property, how future acquisitions will be treated, and arrangements for spousal maintenance. You must also consider how the agreement will affect inheritance rights and whether it includes provisions for reviewing the agreement's terms over time. Be aware that courts can set aside agreements that are manifestly unfair or if circumstances have changed substantially since signing.
Legal requirements in New Zealand
Under the Property (Relationships) Act 1976, both parties must receive independent legal advice before signing, and this requirement cannot be waived. Each party's lawyer must certify that they've explained the agreement's effect and implications. The agreement must be in writing and signed by both parties in the presence of witnesses. You must also ensure full and frank disclosure of all financial circumstances - failure to disclose material information can invalidate the entire agreement. The Family Court has jurisdiction to review these agreements and can set them aside if they're found to be seriously unjust or if proper procedures weren't followed during execution.
GOVERNING LAW
Applicable law
This Matrimonial Agreement is drafted to comply with New Zealand law. Key legislation includes:
Family Proceedings Act 1980: Deals with legal aspects of relationships, marriage dissolution, and related matters that might affect property arrangements
Contract and Commercial Law Act 2017: Provides general contract law principles that apply to the formation and enforcement of matrimonial agreements
Family Court Act 1980: Establishes jurisdiction and procedures for family court matters, including relationship property disputes
Marriage Act 1955: Defines legal marriage in New Zealand and provides context for matrimonial agreements
Family Protection Act 1955: Allows family members to challenge dispositions of property, which could affect matrimonial agreements
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