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info@eastcorkjournal.ie East Cork Business Post


Cork Business Brands Unite for 2017 Annual Dinner


Leading Munster busi- ness hotel, The Monten- otte Hotel, has announced its lead sponsorship of the Cork Chamber Annual Dinner 2017. Tickets for the region’s


most prestigious corporate event go went on Sale yes- terday at 9:30am on the Cork Chamber website, and it will be a fast sellout, such is the popularity of this key event. “Cork Chamber Annual Dinner is THE business


event of the year so for the Montenotte Hotel, it was a natural fit to align directly with the event and pro- vide lead sponsorship this year,” said Frankie Whele- han of the Montenotte Hotel.


Almost 1,000 business


people, along with glob- al, national and regional dignitaries and VIPs, are expected to attend the An- nual Dinner on Friday, 3rd February 2017. “It is really exciting to


see an indigenous business brand, such as the Mon- tenotte Hotel, sponsoring the most significant date in the Chamber corpo- rate calendar,” said Conor Healy, CEO Cork Cham- ber. “This sponsorship rep- resents the opportunities that exist for both SMEs to large multinationals through Cork Chamber and we are delighted to work with the Montenotte Hotel and other sponsors on this flagship event.”


Public Consultation Meeting on the new National Women’s Strategy in Cork on 19 December – Minister David Stanton the


The Minister of State


with special responsibility for Equality, Immigration and Integration, David Stanton TD, will host a public consultation meet- ing on the


forthcoming


National Women’s Strate- gy on Monday 19 Decem- ber at 2pm in the Imperial Hotel in Cork. Commenting on the


public consultation, Minis- ter Stanton said:


Legal Matters


Pre-nuptial agreements – not just for the rich and famous? 3. It should not signed


by KAREN WALSH


Johnny Depp reportedly did not have a pre-nuptial agreement and after just 15 months of marriage Captain


Jack Sparrow


found himself in the di- vorce courts fighting for his treasure! At the time, the actor was reportedly worth $400 million. If there ever was a poster boy for a pre- nup Johnny Depp certain- ly fits the bill! While Hollywood may seem very far removed from rural Ireland lessons can be gleaned from the story. Johnny Depp had significant assets to protect and should have entered into a pre-nup in advance of getting married to pro- tect


his wealth. In rural


Ireland, a farm is a signifi- cant asset, both in financial and emotional terms, and people are now beginning to view pre-nuptial agree- ments as good business and just plain smart. Figures from the Cen-


tral Statistics Office re- leased in 2015 show that the average age of grooms is now 35 years, while the average for brides is 33. As the average age of par- ties entering into first time marriages continues to in- crease people tend to have more wealth accumulated. People have more assets of their own before they get married which they do not want to risk losing if they end up getting divorced. Often, one party has taken over or inherited the fami- ly farm, which has been in the family for generations, prior to getting married. Farms are


different


to most other businesses for a number of reasons. Farms, more so than any other businesses, rely heav- ily on land being intact so as to generate an income, whether it is dairy farm- ing or tillage farming. In contrast to other business- es, whereby an alternative business property can be sourced if required, farm- ers are dependent on the land to produce an income and alternative land is not as easily sourced due to the high cost of agricultural land and a lack of prop- erty available adjacent to


existing enterprises. In ad- dition, parents are rightly fearful of the farm being ‘up for grabs’ in the event of marital breakdown, and consequently, are delaying the transfer of the family farm. Farm partnerships are becoming commonplace and with recent budget- ary incentives to enter into farm partnerships, they are only set to increase. As farms increase in size and new family members be- come a part of the business either directly or indirectly, there becomes a real need to discuss how assets and liabilities will be divided. Land in rural Ireland means more than just a livelihood to most peo- ple. It forms part of their identity, history and values. People


are living longer


and very often the parents are working on the farm well past retirement. The parent’s family home is also often located on the farm.


When a marriage breaks


down a court decides on how to divide the assets of a couple, in the event that an agreement can- not be reached between the parties. As it current-


ly stands the law provides that proper provision must be made having regard to the circumstances that ex- ist for the spouses and the dependent children. The welfare of the child is par- amount in family law. When deciding on provision’ the


‘proper


court shall, in particular, have regard to the a num- ber of matters, including the length of the marriage, the contribution both par- ties made to the marriage financial or otherwise, the current and likely future income, the earning ca- pacity and assets of each party and the accommoda- tion needs of both parties. Each case is decided on its own particular facts and circumstances. A pre-nuptial


agree-


ment could be the answer to this uncertainty. Essen- tially, a pre-nuptial agree- ment is a contract entered into by two people who are engaged


The agreement typically states


that


to be married. the


the


relationship end. It would also set out how property acquired during the rela-


Tel: 021 463 8000 • Email: info@eastcorkjournal.ie • Web: www.eastcorkjournal.ie property


owned by each party pri- or to marriage will re- main theirs should


tionship should be treated. In a farming situation the goal is to protect the fam- ily farm, so an agreement might want to acknowl- edge that the family in- tends to keep the farm in the family for generations. While


a Pre-Nuptial


Agreement is not recog- nised under Irish Law at present this does not mean it is pointless getting one. Each case of course will depend on its own facts and circumstances. In a divorce if you have a prop- erly drafted


under duress. Parents and parents in law should not interfere, otherwise, it may be viewed that one party or both parties may have been pressurised into sign- ing it. 4. Full and fair financial disclosure should be made by both parties as to their assets and liabilities. 5. The


agricultural business, and avoid it becoming stuck in legal limbo and a learned judge who has no knowl- edge of farming deciding on how agricultural assets are to be split. Such agree- ments offer predictability for a farming business and a road map if things go wrong. Karen Walsh, comes


agreement


should be reviewed peri- odically, especially after a couple have children. It can be hard to get


Pre-Nuptial


Agreement in place the court will still more often than not take it into con- sideration when deciding how marital assets should be divided. There certain


are


be taken for a pre-nuptial agreement


steps that must to


be taken


into consideration by the courts.


1. Both parties must re-


ceive independent legal advice prior to signing. 2. It should be signed at


least 6 months before the anticipated


wedding. It


should not be rushed into. Both parties should be giv- en adequate time to read, review and contemplate the agreement.


everyone to see the benefits of pre-planning for some- thing negative. It is difficult to open up


the conversation, but I tell many clients that you real- ly should have a pre-nup- tial agreement. The cost of getting a Pre-Nuptial Agreement properly draft- ed by a Solicitor can be relatively low compared to the benefits which could be gained following sepa- ration. Without


doubt, nups are pre- controversial.


Writing a Pre-Nuptial Agreement does not mean a couple


believes their


marriage will fail but rath- er they are planning for the continued success of their


eastcorkjournal


from a farming back- ground and is the author of ‘Farming and the Law’ and a solicitor practis- ing in Walsh and Partners, Solicitors, 17, South Mall, Cork and Unit 7 Block E, Nutgrove Of-


fice Park, Rathfarnham, Dublin 14 Tel: 021-4270200 and 01- 291 0300 Email: info@walshand-


partners.ie Web: www.walshand-


partners.ie


Disclaimer: While every care is taken to


ensure


accuracy of information contained in this article, Solicitor Karen Walsh does not accept responsi- bility


“We have made some


advances to improve the lives of women and girls in Ireland, but it is clear that a lot more needs to be done. I strongly urge members of the public, women’s organisations and organisations in relat- ed fields in Cork, Munster and surrounding areas to take an active part in this consultation to inform Government policy.


At this public meeting we invite you to tell


Government what you see as the priorities for women and girls in Ireland up to 2020.” Persons wishing to at-


tend the meeting are invit- ed to register by contacting the Gender Equality Divi- sion of the Department of Justice and Equality by the 14 December, either by email to geconference@


justice.ie or phone at 01-4790264 during office hours. Written submissions can


also be made please see www.genderequality.ie for details. Further public consul-


tation events on the new Strategy will also take place in Sligo, Athlone and Dublin during January. Details are available on www.genderequality.ie.


Thursday, 15th


December 2016


for errors or omis-


sions howsoever arising, and you should seek legal advice in relation to your particular circumstances at the earliest possible time.


@eastcorkjournal / #eastcorkjournal


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