If you have just become engaged and are immersed in planning for your big day, the last thing you may want to think about is drafting and signing a prenuptial agreement. Although prenuptial agreements are viewed by many as pessimistic and unromantic, they do offer protection if you have assets that you wish to protect in the event of your marriage breaking down.
What is a Prenuptial Agreement?
A prenuptial agreement is an agreement entered into by a couple before they get married or enter into a civil partnership which sets out in advance how their assets will be divided between them in the event of a divorce.
Prenuptial agreements are not strictly enforceable in England and Wales. The Court has a lot of discretion when it comes to dividing up matrimonial property in the event of a marital dissolution. However, the 2010 Supreme Court case of Radmacher v Granatino effectively created a rebuttable presumption that a prenuptial agreement freely entered into by both parties, with full understanding of its implications, will be enforced unless particular circumstances make it unfair to do so.
A post-nuptial agreement is the same as a prenuptial agreement, the only difference being is that it is entered into after the couple marry or enter into a civil partnership.
Why Should I Enter Into A Prenuptial Agreement?
There are many situations where it would be prudent to “hope for the best, plan for the worst” before entering into a marriage. You may wish to consider drafting a prenuptial agreement if:
- You are bringing considerably more wealth into the marriage than your partner.
- You have children from a previous marriage and you wish to protect some or all of your pre-existing assets for their future benefit.
- You are the owner of a business and do not wish it to become part of the matrimonial pot.
- You wish to preserve inherited family wealth.
- You have been divorced before and your assets have already been reduced.
- You have assets abroad and wish to keep them separate.
Why Choose Us?
At Bennett Oakley Solicitors we can offer you extensive, non-bias advice which will take into account your best interests when considering a prenuptial agreement and its future implications. Our experienced family lawyers will guide you through the process and ensure that the agreement you reach will provide clarity and certainty if there is ever a need for it to be enforced in the future.
If you would like to discuss drafting a prenuptial or post-nuptial agreement, or you have been asked to sign one and need independent advice please call our office on 01444 235 232 to make an appointment to see one of our lawyers. Alternatively, you can fill in our contact form and we will be in touch shortly.