Prenuptial Agreement Solicitors
If you are thinking about getting married, but are worried about the legal implications our solicitors can help.
Prenuptial agreements can be useful in different circumstance. For example, you might have worked very hard in building up your assets prior to marriage, or you might have inherited property, and you may be worried about how these assets might be affected by your marriage. In this situation our prenuptial agreement solicitors are here to provide the proper legal advice.
What is a prenup?
A prenup is a contract between two parties that contains specific terms that will apply in the event of a divorce. A prenuptial agreement might be used effectively to protect certain assets such as financial, property and inheritance. You may also want a prenuptial agreement put in place to protect assets you intended to earmark for your children or other dependents.
Under English law, prenuptial agreements are not automatically enforceable. There has been circumstances where a prenuptial agreement has been upheld due to the validity of the agreement. However, if you each enter into the agreement freely and voluntarily, such an agreement will be regarded as a relevant factor to consider within subsequent divorce proceedings, when the court considers how the assets should be distributed fairly between each of you.
How does a prenuptial agreement work?
In order for a prenuptial agreement to be enforceable and reliable evidence of what each of you intended, it is important that:
- Each of you receive independent legal advice on the terms of the prenup.
- There needs to be full and frank disclosure of financial documents between each of you.
- Each of you must enter into the agreement of your own free will
- There must be sufficient time before the wedding for the parties to obtain appropriate legal advice on the terms of the agreement.
- The agreement must be made by way of Deed. You must each intend to enter legal relations with each other.
- There be provision for a review of the agreement in the event of a change of circumstances.
It is important that you each realise that a prenuptial agreement is evidence of what each of you agreed at the time you entered into the agreement. The agreement represents the wishes of the parties before the marriage which means if there is a change in these wishes during a separation or divorce then the prenup is there to validate the previous wishes.
It is unlikely that the court would uphold the agreement in the event of a birth of a child, for example, or if circumstances change in some other way.
Prenuptial agreements can be used to provide clarity as to what each of you intend from the outset. Such an agreement might reduce the impact of the cost of court litigation, should the relationship subsequently break down.
For more information on how we can assist with divorce or children related matters please visit our family law page.