A prenuptial agreement (more commonly shortened to pre-nup) is a contract a couple enter into prior to taking their marriage vows to outline how finances and/or property shall be divided should the marriage breakdown.
Although UK divorce Courts are still yet to consider them as legally binding they can still act as a reference guide in legal disputes. Therefore it is important, before drafting a prenuptial agreement that you seek legal advice to ensure the agreement coheres to the letter of the law to ensure you have an effect legal safeguard.
What should my prenuptial agreement contain?
A good start for a prenuptial agreement is to set out the terms for how you would like to split yours/your partner’s possessions in the event the marriage ends. It may also be beneficial to include agreed terms of a financial settlement in the event of a divorce.
A prenuptial agreement can be used to lay in provisions for you and your partner and what assets each of you own during the marriage also.
Do I need a prenuptial agreement?
Marriages are to be long and happy, but if the undesired thought does happen and the marriage breaks down then a prenuptial agreement can protect you and/or your partner.
It is important to look at what assets you both have, if there are children involved, have you got a business you would like to protect or inheritance. If thee do apply, then it is advisable to draw up and sign a prenuptial agreement, this way you and your partner have a “safety net” in regards to future legal issues.
I want to draw up and sign a prenuptial agreement, what should I do?
It is strongly advised to seek legal advice when drawing up a prenuptial agreement, this will ensure it has the strongest legal basis.
We work with experts who will be happy to go through everything you wish/need to be included in your prenuptial agreement and have experience in drafting reasonable and fair agreements.
If you’d like to discuss this further call one of our legally trained advice specialist and we can get you started today.