Prenuptial Agreement Lawyers

There are a number of reasons why couples enter into a prenuptial agreement.

One of the most common situations is when there is a considerable disparity in wealth between the couple. The partner with significantly more assets and higher net worth may feel that an equal split would mean they would be disproportionately affected.

Other reasons for having a prenuptial agreement could include:

• You wish to safeguard assets including property, profits from a business, or valuable items you brought to the marriage if it doesn’t work out.
• You expect to increase your wealth in the future perhaps through your family business or an inheritance and want to protect this from any financial claim if your relationship breaks down.
• You or your partner have foreign nationality or have previously lived abroad and there is the possibility of international divorce. A prenup can stipulate your intention for a UK divorce to avoid falling foul of the law in your foreign jurisdiction which may not allow for a fair division of assets.
• This is your second marriage, and you want to limit the claim your future spouse has on the financial settlement from the first marriage.
• You’ve been widowed and want to protect your assets if things go wrong in your new marriage.
• You’re getting married and want to avoid a costly court battle by clearly setting out your intentions about how assets will be distributed in the event of a divorce.
• You have children and want to protect their inheritance.
• Your family insists on having a prenup in place to protect any wealth or business interests they intend to give you.

A prenuptial agreement sets out how financial matters would be dealt with in a divorce. This includes detailing the rights, responsibilities, and financial obligations each party has over their shared assets and any debts or individual liabilities.

Anyone thinking about marriage should consider whether they need a prenup because it provides clarity over how these issues are dealt with to reduce the risk of conflict arising during divorce proceedings.

The family court may decide to divide assets differently from the prenuptial agreement, but it’s worth having a written agreement of your intentions to help inform proceedings.

The prenuptial agreement is a document that’s unique to you and your set of circumstances. You may protect whatever you want, but there are common issues dealt with in most prenups.

A prenup typically covers:

• the family home
• any other property
• savings
• investments
• inheritance
• business interests
• vehicles
• artwork and other valuable objects
• items of sentimental value
• trusts
• spousal maintenance
• pensions

You can also include a clause that protects you against any debts incurred by the other party.

Provision for children and child maintenance can be included by a prenuptial agreement, but it can be challenging to do so particularly if children have not yet been born or adopted. It is common, however, to include terms regarding children from a previous relationship.

It is important to consider this issue before getting married and for provision to be considered within the agreement. You should also consider how having children would change your circumstances, for example preventing one party from working or progressing in a career. This may have a bearing on the distribution of assets which is why a prenup needs to cover changes in circumstances and be reviewed regularly. Our prenup lawyers can advise you on what your agreement should include, to ensure the best outcome for both parties.

The primary purpose of a prenuptial agreement is to prevent a dispute if a marriage breaks down. It is not designed to frustrate the legitimate financial claim of the other party.

While there are no strict rules about what can or cannot be included, a prenuptial agreement has no hope of even being considered by the courts if it’s unfair or fails to meet the basic needs of one party.

Any terms of the agreement that go against public policy would also be dismissed for example making conditions on how the other party must behave to receive their portion of the settlement.

It is legal to have a prenuptial agreement in the UK and the court will look at it, but a prenuptial agreement is not legally binding.

The husband or wife can apply for a financial settlement. It is not possible to stop a judge in those proceedings from making certain orders, and the judge can use his or her discretion in what orders to make.

It is becoming more common for UK courts to seriously consider the terms of a nuptial agreement and if you follow the right process when drafting it, a properly executed prenup can have a significant weight in court proceedings. The agreement may be upheld fully or in part unless there is a very good reason why it should not be.

The first step for a successful prenuptial agreement is to have the conversation between the spouses early. This allows both of you to consider the benefits of entering a prenup, and reduces the pressure around the agreement.

Couples should get independent legal advice before taking any further action. This is to ensure that everybody fully understands what it is they are being asked to sign, it is fair and reasonable, and it has been prepared correctly.

At this point, it is crucial to conduct a thorough financial disclosure to ensure details of all financial matters related to both parties are clear. This is so that you can make an informed decision before signing the contract. If full financial information wasn’t given, or if something was hidden during the process, a prenuptial agreement may not be upheld in the event of a divorce.

The terms of the agreement should be clearly written and cover everything you want to include. If there is any ambiguity or doubt, this could cause difficulties in the event of a divorce and could lead to a judge in financial settlement proceedings making decisions that you may not like.

Finally, the agreement should be fair and reasonable otherwise it is unlikely to be upheld in the event of divorce proceedings.

For a prenup to be worth consideration by the court you must ensure that you make it in good time. This means signing the document at least 28 days before your wedding day.

Your agreement is also more likely to be upheld if you take independent legal advice on its terms. This helps avoid any accusations of one party being put under pressure to sign and it ensures you both fully understand what you’re signing.

As prenups are not legally binding, any chance you have of it being considered depends on making sure the agreement is correctly prepared in a particular way.

Without drawing on qualified legal expertise to help you draft your prenup, you may not cover all the important aspects that should be included to fully protect your assets in a financial settlement. That’s why we are on hand to help you draft a prenuptial agreement tailored to your situation.

As tempting as it may be to save money and use a pre-drafted template, such templated agreements don’t consider your unique situation and may not achieve the desired result.

It’s advised that you prepare and sign the prenuptial agreement well in advance of your wedding. Taking time to draft the perfect prenup benefits everyone involved. The agreement may take several months to draft and should be signed at least 28 days before your wedding day.

This helps avoid future accusations of undue pressure on one party or a lack of understanding of the implication of signing the agreement. Both are potential reasons a court might have for not upholding the terms of the prenup.

Yes. There is a pre-civil partnership agreement which functions in the same way. This is known as a ‘precip.’

Pre-nuptial agreements can be a cost-effective way of avoiding the potentially expensive arguments that often happen when couples split up and can make the process for divorce a lot simpler and less acrimonious.

Legal precedent is shifting in favour of upholding prenups, provided they are prepared correctly and don’t disproportionately favour one party.

It is a good idea to speak to one of our specialist family lawyers about the possibility of a prenuptial agreement before getting married. Our prenuptial solicitors can assess your circumstances and give you the best advice about whether you should consider a prenup.

Our expertise is wide ranging, having helped clients in situations where there is a second marriage, where the parties owned assets before they got married, and in situations where there are already children or stepchildren to consider. Get in touch today for an initial no obligation call.

You can only enter a prenuptial agreement before the start of the marriage - usually, we advise at least 28 days before the date of the wedding.

If you are already married, but considering a formalisation of the division of assets, you can draft a post nuptial agreement. This document can cover the same areas as a prenup, and allow you to plan your finances in the unfortunate event of a separation.