Prenuptial agreements are often set up to protect one person’s assets before they enter into a new marriage. Our specialist family solicitors can advise you on all aspects of prenuptial agreements including whether they are suitable for your circumstances and the steps you should take to try and ensure that the agreement is taken into consideration in the event of a divorce or separation.
Prenuptial agreements are entered into for a number of reasons, ranging from protecting wealth gained prior to a marriage, to protecting family assets from a previous marriage to ensure that those assets are passed down to children from that previous marriage.
A prenuptial agreement is a contract entered into by a couple prior to marriage. In it they set out how their property will be divided in the event of them divorcing or separating.
The Law relating to Prenuptial Agreements
Prenuptial agreements are not currently legally binding in England, but they are still useful and are therefore becoming more commonly used. In many cases, and as long as certain safeguards are met, prenuptial agreements are being taken into account or upheld by the Courts. It is important that the following safeguards are met from the outset:
- Neither party was put under pressure sign the agreement.
- Both parties to the agreement receive independent legal advice about the agreement.
- Full financial disclosure of both parties assets must be made prior to the agreement
- The agreement has to be fair. If the proposed division of assets is weighted heavily in the favour of one person, it could be judged to be unfair by the Courts.
- There has been no significant change during the marriage (such as the birth of children) which would make the agreement inappropriate.
For more information please contact us to speak to one of our family solicitors.