A Prenuptial Agreement ( or prenup) is an agreement made by a couple before they marry, setting out how they would like their assets split if they divorce.
With around 50% of all marriages ending in divorce these days, and given the powers of the family courts to re-distribute family property, the prenup is becoming more popular in the UK. After marriage, all of a couple’s assets become matrimonial assets. A Prenuptial Agreement is designed to try and limit any claims on those assets by the other party if the marriage ends.
A Court would be more likely to uphold a pre-nuptial agreement if:
In order to establish this, the Court would take account of such factors as whether the parties have received independent legal advice, whether both parties have provided full details of their financial positions (if required) and whether either party felt obliged to sign the agreement in order to ensure the marriage took place. The Court will also consider whether there are circumstances in which it would not be fair to hold the parties to their agreement, such as the birth of a child.
Our specialist team of Lawyers can help you with all of these issues and guide you through the process. Our team would be in charge of drafting an agreement and discussing this with your partner’s representative. We also give advise on the draft agreement prepared by your partner’s representative. Lastly, we guide you through the process of exchanging relevant financial information, through to signing your Agreement.
Did you know?…After marriage, all of a couple’s assets become matrimonial assets.