28th August 2020
Pre and Post-Nuptial Agreements
A lot of couples think pre and post-nuptial agreements are something more common in America, however asset protection is important for many families, businesses and individuals.
Unfortunately, as family law experts we understand that almost half of marriages end in divorce. We know this may seem a bleak outlook to many happily married couples, but we are realistic and understand the need to protect your assets which can often be overlooked during the Honeymoon Stage.
Pre-nuptial and post-nuptial agreements are a useful way of regulating finances in the event a relationship ends, whether that is in relation to martial or non-marital assets such as businesses and inheritance. You may need a specialist family lawyer to help you differentiate between the two. A pre-nuptial agreement is a contract between a couple entered into before a marriage or civil partnership and a post-nuptial agreement is exactly the same sort of contract but is entered into after the marriage or civil partnership.
The courts will look to share assets built up during a marriage but they can also look at pre-marital assets if necessary, therefore it is vital that you discuss these issues and complete a pre or post-nuptial agreements where you have assets when entering into the marriage, otherwise there is a risk that these could be shared upon separation.
Currently, nuptial agreements are not formally binding in England and Wales. However, they have been regarded by the court as persuasive and even decisive. A well-drafted nuptial agreement is highly likely to be upheld if a dispute arises during subsequent divorce or dissolution proceedings.
The best way to make sure the agreement is upheld by the court is for both parties to obtain independent legal advice, have full disclosure in relation to all financial resources available, make sure the agreement is dealt with shortly before or after the marriage, and that it is fair in all the circumstances.
If you are considering a pre or post-nuptial agreement, please do not hesitate in contacting our family law experts on 0345 900 5401 or contact Rebecca Cresswell by email at firstname.lastname@example.org.