Pre & Postnuptial Agreements

Marriage is a significant milestone in any person’s life, however many people worry about protecting their assets before they tie the knot. Unfortunately, it is common for many relationships to breakdown over time, so it’s important for a couple to have a plan in place if this does happen.

This is particularly important if one person has significantly more wealth than the other, or if one of you has been married before and has children from a previous marriage.

A pre or post-nuptial agreement is a great option and can help ease any worries you may have about preserving your wealth; especially when marrying or entering a civil partnership. Although it is not automatically binding, the courts will take the documents into account on any future divorce and well drafted documents are being upheld by judges where they feel the outcome is fair in all the circumstances.

It is advisable to enter into an agreement well in advance of the ‘big day’ and usually at least three months beforehand. Bear in mind that before an agreement can be signed, it has to be prepared and considered, and both people must give each other full and frank disclosure of their finances. This will take approximately eight weeks, and both parties to the agreement need their own independent solicitor.

Financial uncertainty is one of the most stressful elements of any divorce. A pre or post-nuptial agreement can be a useful tool for couples wishing to reduce this uncertainty and their legal costs upon any subsequent separation or divorce.