Pre & Post Nuptial Agreements
Whether you’re getting married or currently married, you may wish to arrange the settling of you finances and assets in case of future separation.
Prenuptial agreements, commonly known as ‘prenups’ are a way of you and your partner deciding on what will happen with your assets in case of future separation.
If you’re thinking about making such agreements but are unsure on the best steps to take, contact our family law solicitors who will be able to give you legal guidance and help you through the process and answer any questions you may have.
To get in touch with our solicitors, call us on 033 33 582 588 or fill out a contact form on the right.
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A prenuptial agreement (often called a ‘prenup’ is a contract between you and your partner before entering into a formal union in the United Kingdom. It is not uncommon for couples to have questions and concerns regarding their current or future wealth and assets. Although they often get a bad reputation and can be seen as a bad foot to start a relationship off on, entering into prenuptial agreements is far from uncommon.
Evidence suggests that more soon-to-be couples in the United Kingdom than ever before are considering the potential benefits of formal prenuptial agreements.
What is a prenuptial agreement?
A prenuptial agreement or ‘prenup’ is a formal agreement reached between both parties before entering some kind of recognised union, such as marriage or a civil partnership. The agreement will set out what should happen to all assets in the event that the couple separates for any given reason. A prenuptial agreement can ensure that one or both partners retain ownership of their wealth and assets, irrespective of when, why, and how the subsequent separation occurs.
Why should I have a prenuptial agreement?
You may be bringing more assets to the marriage than your partner and wish to protect them, or to make provision for children from previous relationships.
Are prenuptial agreements legally binding?
Although prenuptial agreements are often settled within courts, the fact is that prenuptial agreements are NOT legally binding. If court proceedings are issued the court will consider the terms of the prenup together with other factors and if the agreement is considered fair to both parties, the court are likely to uphold the agreement.
A ‘prenup’ is not very romantic is it?
Whilst the notion of a prenuptial agreement may be viewed as unromantic and perhaps untrusting, in some circumstances they are very useful and necessary to protect the assets in the event that a relationship breaks down. It can also help to keep matters as amicable as possible on separation which is better for everyone involved, especially any dependent children.
Why should a couple consider a prenup?
Entering a prenup is often seen as a bad foot to start a relationship off on, as you’re planning for future separation. However, more and more people in the UK are entering prenuptial agreements because it provides them with something of an insurance policy to protect their wealth and assets.
An obvious working example of when a prenuptial agreement might be put in place would be if someone with a sizeable estate is planning to enter a civil union with someone with far less estate.
In this scenario, the wealthy person may wish to safeguard their property and money in case of subsequent divorce. In addition, if a couple does decide to split in the future, a prenup can significantly streamline and simplify divorce and separation proceedings, which can save you far more money than the cost of entering a prenup in the first place.
What is a postnuptial agreement?
A postnuptial agreement is the same as a prenuptial agreement but it is entered into after the marriage, perhaps if there has been a change in circumstances.
We can help you
We are specialist Family Law solicitors who can help you by drafting a prenuptial agreement which adheres to guidelines to enhance the enforceability of the agreement reached. To meet safeguards and to help ensure any prenuptial agreement is legally binding both parties need to have had independent legal advice, for more information on ‘prenups’, check our guide to prenuptial agreements for UK couples.
Alternatively, if you are seeking help with ending a relationship and need advice relating to an existing prenuptial or postnuptial agreement, our expert family lawyers are on hand to help you.
Contact us and speak to an experienced member of our Family Law team on 033 33 582 588.