What Are Pre-Nuptial Agreements?
The purpose of a pre-nuptial agreement is to clarify and ascertain exactly how assets and possessions should be distributed between partners should a marriage unfortunately break down. It is a written contract that is signed before a couple get married.
Is a pre-nuptial agreement legally binding?
Pre-nuptial agreements are not legally enforceable in the United Kingdom, but the courts do see them as influential. In a recent ruling, the fair distribution of assets can be assessed and governed by a pre-nuptial agreement – and they are becoming more and more popular.
The following guidelines must be adhered to when organising a pre-nuptial agreement to ensure it has standing in the event of a separation and divorce.
1 – Independent legal advice should be sought by both parties.
2 – There should be full financial disclosure and details should be provided on income, assets and liabilities to your solicitor.
3 – The Agreement should, ideally, be completed 3 months before the marriage.
4 – There should be no undue influence imposed by either party.
What should your pre-nuptial agreement contain?
What your pre-nuptial agreement contains is completely up to you and will depend on your assets and individual circumstances. Some of the most popular things a pre-nuptial agreement covers are:
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.
Our Pre-nuptial Agreement Services
Pre-nuptial agreements can be useful in minimising disagreements, difficulties and possible litigation. Should the relationship come to an end, having a pre-nuptial agreement in place will ensure you are protected and that any arguments can be solved quickly and easily.
To talk to a prenuptial (pre-nup) solicitor today, contact us on the details below. We will make no charge to talk to you initially.