In simple terms, a prenup is an agreement made before getting married. It is designed to keep your assets, like property or things you owned before the marriage, from being split up if you divorce. This means what you owned before the marriage stays yours, even if the marriage ends.
The prenuptial agreement is a written contract a couple makes before marriage. Its main goal is to outline who owns what and how assets will be split if the marriage ends. While prenups are commonly linked to celebrities and the wealthy, they are helpful for a wide range of people, especially those getting married later in life or those who are remarrying.
Use Cases for Prenups
For instance, someone might own a house and want to ensure it goes to their children, or one or both partners might have significant pensions or expected inheritances. A well-prepared prenup can prevent a spouse from automatically getting a part of your assets in a divorce. Additionally, it can reduce the chances of disputes and lengthy legal battles in the future.
Prenuptial agreements define the terms related to properties like the family home or other assets each party owns, including savings, investments, and inheritances. Additionally, they may cover business assets, premium bonds, stocks, and shares or even stipulate arrangements for family pets.
They are also beneficial in situations where one partner has significant debts. In such cases, a prenup can include a clause to safeguard you from being responsible for those debts.
While prenuptial agreements are not automatically enforceable in England and Wales, courts often place considerable importance on them. They generally strive to honour these agreements if they are deemed fair in the specific context of the case.
Specific steps are advisable to enhance the likelihood of a prenup being upheld. These steps include the following:
- Proper drafting of the agreement.
- Full and honest financial disclosure by both parties to each other.
- Voluntary agreement from both parties after receiving independent legal counsel.
Courts will likely recognise their agreement when couples adhere to these guidelines and sign the document at least 3-4 weeks before the wedding.
Is Your Prenup Legally Binding?
Courts might not enforce a prenuptial agreement under certain conditions:
- If a family lawyer did not draft the agreement.
- Lack of financial disclosure between the parties.
- Absence of legal advice for the parties.
- Parties were advised against signing after seeking legal advice.
- Any signs of coercion or pressure.
- Signing the agreement less than a month before the wedding.
- Failure to anticipate future changes, such as provisions for potential children.
While prenups are often viewed as lacking in romance, they are practical considerations. Without a prenup, all assets brought into the marriage could be subject to division.
How Axis Solicitors Can Assist
We understand the delicacy and importance of prenuptial agreements. Whether you have significant assets, business interests, or children from previous relationships, we can help.
How We Can Help:
- Expert Drafting: Our legal experts will draft a robust prenuptial agreement that reflects your specific needs, ensuring clarity and legal soundness.
- Guidance and Counseling: We offer personalised guidance and counselling to help you understand the implications of each clause in the agreement.
- Fair and Equitable Solutions: Our goal is to create a fair agreement that protects both parties, reducing the likelihood of disputes in the future.
- Comprehensive Financial Disclosure: We assist in ensuring full and transparent financial disclosure, a crucial step in the prenup process.
- Independent Legal Advice: We encourage and facilitate independent legal counsel for both parties, strengthening the agreement’s enforceability.
- Confidentiality: We handle every case with the utmost secrecy, recognising the personal nature of prenuptial agreements.
Contact us today to discuss how we can assist you in creating a prenuptial agreement that safeguards your future. We offer a free initial consultation and have offices in Manchester, London, Birmingham, Chester, and Newcastle to serve clients across the UK. Furthermore, we accept remote clients from any location internationally.
You can call us at 0800 0119798 on weekdays from 9 am to 5:30 pm on our UK number. Alternatively, email us anytime at email@example.com to schedule a free consultation with our legal team. Lastly, you can fill out our online contact form or use the chat widget 24/7 to leave a message for our team.