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?

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

Is my Prenuptial Agreement enforceable?

Yes. In most cases, the court will be persuaded to implement the provisions of a prenuptial agreement provided that it has been properly drawn up in the manner recommended in this web-site and provided it would not lead to an unjust result. The UK courts always retain a discretion in family law matters and because of this it possible that the court may decide to overlook all or some of the provisions of a prenuptial agreement in any given
case so it cannot be said that there is an absolute rule that prenuptial agreements are always followed by a UK court. However, it is likely that they will be or at least that they will be considered persuasive and will have a significant bearing on the financial outcome of any given case.

Prenuptial Agreements are becoming increasingly popular as a method of protecting assets owned before marriage, inherited assets, and legacies to children from a previous marriage – especially for those who remarry later in life.

Anyone thinking of marriage should consider whether they need a Prenuptial Contract.