Call +44(0)161 941 4000
Call +44(0)161 941 4000
A properly drafted Prenuptial Agreement which sets out the basis for the distribution of assets in the event of marriage breakdown is an effective wealth protection step.
Call us on 0161-941-4000 or use the form below.
A pre-nuptial agreement is useful to protect:
You can also enter into a post-nuptial agreement, which can offer the same protections. However, a post-nuptial agreement is entered into after marriage, rather than before.
To ensure that a pre-nuptial agreement is written accurately and protects the interests of both parties, it is crucial that independent legal advice is taken.
Pre and post-nuptial agreements are not legally binding. However, they can be recognised by a court. However, the family courts are increasingly respecting of the terms of an agreement where the following criteria have been met:
An agreement created during marriage is usually called a post-nuptial agreement. These agreements can be entered into during the marriage and can seek to protect certain assets from claims by the other spouse in the event that the marriage was to break down.
They are useful in protecting business assets, especially used in conjunction with a restructure of company shares and the creation of a discretionary trust.
Post-nuptial agreements can also be useful to set out the assets of both parties and state how these will be divided in the event of a marriage breakdown, divorce, separation or death. This can provide clarity about finances and can be especially useful for high-net-worth couples.
The same provisions apply as for married couples. Civil partners can also enter into pre or post-nuptial agreements.
The creation of a trust may protect a spouse’s family wealth to some extent from the family court. Our courts have a broad power to vary certain nuptial settlements and can take into account the existence of a trust as a “resource” of the spouse who benefits from the trust.
The trustees of a trust, whether the trust is based here or offshore, will need to take swift expert advice at an early stage to protect all the beneficiaries of the trust, and must be advised on the extent to which they must submit to the jurisdiction of the courts of England & Wales or whether the offshore jurisdiction which governs the trust provides the trustees with local protection. In the case of offshore trusts, it is important to obtain legal advice in this country and in the relevant overseas jurisdiction.
At Myerson, our Private Client and Family Law Specialists can advise spouses, settlors and trustees, (whether in this country or overseas), on their duties and responsibilities, and the extent to which the trust itself is vulnerable to attack upon divorce. The Private Client Team has extensive experience in drafting trusts to ensure that family wealth is given maximum protection, and in advising clients on the most tax efficient way to protect their wealth.
Home-grown or recruited from national, regional or City firms. Our specialists are experts in their fields and respected by their peers.
Jane is a Partner and Head of the Family Law Team
Nichola is a Senior Associate in our Family Law department
Sarah is a Senior Associate in our Family Law department
Gabrielle is an Associate within the Family Department
Vikki is a Trainee Solicitor within the Family Team