Pre & Post Nuptial Agreements

What is a pre-nuptial agreement?

A pre-nuptial agreement is a written agreement made by a couple who intend to get married, or enter a civil partnership, which specifies the financial settlement which would be made in the event that they divorced, or their civil partnership is dissolved. It is signed by the couple before the marriage takes place.

What is a post-nuptial agreement?

A post nuptial agreement, like a pre-nuptial agreement is a written agreement made by a couple which specifies the financial settlement which would be made if they divorced, or their civil partnership is dissolved. The only difference is that this agreement is made after the couple have already married or entered into a civil partnership.

What is the purpose of a prenup?

The purpose of a prenuptial or post-nuptial agreement is

• To protect pre-marital assets
• To protect against your assets from your partner's debts
• To agree the division of finances should your relationship breakdown
• To agree how you will manage your finances between you
• To protect business or trust assets
• To protect your children's financial interests

Are pre-nuptial agreements legally binding?

Pre-nuptial agreements are not legally binding under the laws of England & Wales. However, if a prenuptial agreement is properly drafted well in advance of the marriage and is agreed by both parties and provided the agreement is fair, the courts will seek to uphold the terms.

Why should I get a Pre-Nuptial Agreement?

Although pre-nuptial agreements are not legally binding in the courts of England & Wales, they may still be of value in the event of a divorce. The existence of a pre-nuptial agreement is one of the factors which would be considered by the courts. For this reason, an increasing number of couples are choosing to enter into pre-nuptial agreements.

Pre-nuptial agreements are common where one party has substantial wealth which they want to protect in the event of the marriage or civil partnership failing. But often couples simply wish to agree to exclude assets which they have inherited or are expecting to inherit, or to protect a business which they own or to protect their assets.

I am considering a pre-nuptial agreement. What do I need to do?

There are many safeguards in place for couples who wish to enter into an agreement but want to ensure that the agreement they enter holds some weight in court and will not cause issues in the future.

One of these safeguards is that either party must obtain independent legal advice from a solicitor of their choosing, who will go through the agreement with them and advice whether they believe it is in their best interests to pursue it.

It is also advisable that pre-nuptial agreements are signed no less than at least 21 days before the wedding or civil partnership itself.

What is included in a pre-nuptial agreement?

A pre-nuptial agreement will normally list all the assets owned by each party specifying what is to happen to them in the event of a divorce or dissolution of civil partnership. There are no restrictions in what can be stated in an agreement, as long as both parties are in agreement of it.

You may specific matters relating to the division of any shared or solely owned assets, whether they are properties, pensions, or shares. You may also include any agreement you may have in respect of the maintenance of each other or the children of the marriage.

What happens if I don't have a pre-nuptial agreement?

You will not be penalised by a court if you do not have a pre-nuptial agreement in place. In such circumstances, your matter will be governed under the divorce laws of the United Kingdom as they stand at the time of the divorce or dissolution of the civil partnership.

Why choose Westridge Legal?

Our team of family lawyers are aware of the sensitivity and complexity involved in pre and post nuptial agreements. We understand that every individual requires different care and are here to support you.

Our highly experienced lawyers will guide and support you every step of the way to ensure that the best outcome is achieved with minimal disruption to your life.

If you wish to speak about your options directly with our specialist staff, please contact us on 0121 724 0302 to book a consultation today.