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If you are planning to marry and want to ensure that certain assets are protected from claims for financial provision on divorce, you can contact our Family Solicitors below.
Couples planning to marry or enter a civil partnership may want an agreement to determine what they intend to happen to their money and property if the marriage breaks down.
In England and Wales, prenuptial agreements are not strictly binding in the event of a divorce, but the terms of the agreement may be decisive in the event of a subsequent court dispute.
A prenuptial agreement shows how your assets will be shared if you separate from your spouse.
There are several reasons to enter into a pre-nuptial agreement, even if you do not have significant pre-marital assets to protect.
A prenuptial agreement should be considered if there are certain assets that you would like to ring-fence before getting married.
You may want to enter into a prenuptial agreement for the following reasons:
The above is not an exhaustive list.
Many people are uncomfortable addressing the topic of prenuptial agreements out of fear that they will harm their relationship or offend their future spouse.
Talking about having a prenuptial agreement can be challenging, and suggesting a prenuptial agreement can be daunting.
However, you can take steps to prepare for a positive discussion.
It is essential that you talk to your fiancé(e ) sooner rather than later because it can take several months to finalise the agreement, which must be signed 28 days or more before the wedding.
Drafting prenuptial agreements requires careful consideration to ensure that they are effective and full financial disclosure from both parties.
Both parties to a prenuptial agreement must obtain independent legal advice to ensure that the agreement is not set aside on the grounds of coercion, the terms being unfair or a party not having understood the consequences of entering into such an agreement.
All couples contemplating remarriage should consider the protection afforded to pre-marital wealth by a prenuptial agreement.
Failure to make reasonable financial provisions for a spouse in a Will may inadvertently lead to a challenge against your estate in the event of your death by your widow(er), which may have unanticipated consequences for your children.
If you are planning to marry and want to ensure that certain assets are protected from claims for financial provision on divorce, you can contact our Family Solicitors below.