Prenuptial agreements are a formal agreement drawn up between two partners before marriage, giving both sides peace of mind and security.
It establishes ownership of all your belongings (including money, assets and property) and explains how it will be distributed in the event of the breakdown of the marriage.
Prenuptial agreements are seen by some people to be distrustful, however, others maintain that a prenup can avoid time, expense and hostility.
One analogy is that you wouldn’t buy a house without insuring it, so why would you get married without protecting what’s rightfully yours?
As the law currently stands in England and Wales, prenuptial agreements are not automatically legally binding but recent case law points towards this changing in the future. If however it is done properly, prenuptial agreements should be upheld in the future and can be used to help protect wealth and assets, or simply to provide the couple with certainty about what would happen if their relationship was to break down.
Now, more than ever, prenuptial agreements are having weight attached to them and proving influence in court. Prenuptials can be highly persuaive to the Court by settling out clear intentions of what the parties intended for their finances in the event of separation.
For the agreement to be given more support in court, it is good practice to have signed the agreement with enough time before your wedding day, however the minimum is at least 28 days before. Further to this, if the terms of the agreement are reasonable, allows for future changed and if it is accurately drafted by a family lawyer with both parties receiving independent legal advice, the agreement may be given more consideration at court.
A prenuptial agreement should cover the following:
We can help you prepare a prenuptial agreement specific to your needs.