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Prenuptial Agreements

What is a Prenuptial Agreement?

A Prenuptial Agreement or prenup is an agreement made by a couple before they marry, setting out how they would like their assets divided if they divorce.

With around 50% of all marriages ending in divorce these days, and given the powers of the family courts to re-distribute family property, the prenup is becoming more popular in the UK.

When two people marry, all of a couple’s assets become matrimonial assets. A Prenuptial Agreement is designed to try and limit any claims on those assets by the other party if the marriage ends.

Why do I need a Prenuptial Agreement?

It is a sad fact that almost 50% of all UK marriages end in divorce and when one party is considerably more wealthier than the other a 50% share of all property and assets can often be seen as being unfair.

Without a prenuptial agreement UK court awards on a divorce can sometimes appear to be rather a lottery. 

A prenuptial agreement that is agreed by both parties prior to marriage can help prevent the potential unfairness and uncertainty associated with UK divorce courts

There are many reasons why people decide they want a Prenuptial Agreement, these include:

  •  anyone with substantial business assets

  •  those perhaps marrying again, wishing to safeguard assets for children from an earlier marriage

  •  anyone concerned about “gold digging” from their new spouse should the marriage fail

  •  those wanting to protect inherited assets

  •  those wanted to protect property and assets overseas

Is a Prenuptial Agreement enforceable?

In most situations yes. Courts will look to enforce the provisions of a prenuptial agreements provided that they have been drawn up properly by a solicitor. Please note that UK courts always retain the right to ignore some or all of the provisions of a prenuptial agreement if they feel it is unfair. In most cases however they are certainly taken into account and provide a very persuasive argument as well as having a significant bearing on the financial outcome of a case. 

If you are considering marriage and you are not sure if a prenuptial agreement is right for you, talk to us confidentially today. Our solicitors can provide you with expert advice drawn from years of experience. Call us today on 0800 915 24 84 

 

       
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