A pre-marital, or pre-nuptial agreement, is a written contract that two parties sign before they get married. The purpose of the document is to clarify how assets should be distributed in the unfortunate event of a marriage breakdown.
Although legally binding in America and some parts of Europe, pre-nuptial agreements are not presently enforceable in the United Kingdom. Nonetheless, in recent rulings, the Courts have indicated that such agreements may be influential, in assessing the fair distribution of assets.
To ensure that a pre-nuptial agreement has any standing in relation to subsequent divorce proceedings, it is essential that the following guidelines are adhered to;
1 - Both parties should seek independent legal advice.
2 - Both parties should provide full financial disclosure.
You should give your solicitor comprehensive details of your assets, income and liabilities. This information should be exchanged between both solicitors.
3 - The Agreement should, ideally, be completed 3 months before the marriage.
4 - Undue influence should not be imposed by either party.
This will depend entirely on your individual circumstances, but you may wish for the agreement to contain;
1 - Details as to how your property will be divided.
2 - Details relating to the division of the monies held in your respective bank accounts.
3 - Details concerning how you wish to divide your stocks and shares.
4 - Clarification as to which assets are owned jointly and which are owned by a sole party.
5 - Clarification as to whether one party will pay a sum of maintenance to the other party.
Pre-nuptial agreements can be useful in minimising disagreements, difficulties and possible litigation, should the relationship come to an end.
Contact our family department for friendly and confidential advice in relation to pre-nuptial agreements. We will take the time to discuss your individual circumstances and draw up a tailor made agreement which takes into account all of your requirements.
Kevin Smyth T: East Grinstead 01342 306 283
Marie Stock T: Brighton: 01273 604 123
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