At Vincents Solicitors we believe that Prenuptial Agreements can help ease the pressure of sorting out financial matters between couples before, during and after the breakdown of a relationship. Although not legally enforceable in the UK at present after a recent Supreme Court decision that took into account a Prenuptial Agreement in a high profile case, the law does look set to change, making England and Wales finally catch up with our European and US counterparts. Please contact our Family Law Solicitors should you need any advice concerning Prenuptial Agreements and we’ll be happy to help.
What is a Prenuptial Agreement?
A prenuptial agreement can help sort out a couples financial arrangements before getting married. By agreeing financial matters in advance it could save a lot of bitterness and costly legal argument later.
Why should I consider a Prenuptial Agreement?
Although no one entering marriage wants to think that they might split up later, the fact is that 50% of marriages do end in divorce. On the other side of the coin you may want to get married but the financial side of things is perhaps holding you back and you may feel the need to protect yourself from any wrangling later down the line. We see prenuptials as a way of clarifying both partners financial position in advance of marriage.
All of our prenuptial agreements are set out in the fairest way possible to both parties. This is important to increase its consideration by a court later. Prenuptial Agreements that are signed under pressure or coercion will not be considered fair by any judge. We would recommend that both partners take independent legal advice when signing a prenuptial agreement; this should ensure that you are both fully aware of the others financial position at the outset and that you agree to the provisions set aside in the prenuptial agreement.
What’s covered in Prenuptial Agreements?
Prenuptial agreements should cover only financial arrangements between you should your relationship break down, for example you can agree on matters such as:
- The martial home and its contents
- Child Maintenance Payments
- Joint Bank Accounts
- Other jointly owned property
- Property owned separately
- Specific Possessions or gifts
The aim of prenuptial agreements is to make things easier to sort out should your relationship breakdown; with everything agreed in advance there shouldn’t be any financial arguments later.
Can Prenuptial Agreements be updated?
Throughout your relationship as circumstances change you should update your prenuptial agreement. We would recommend that you do this once every couple of years or if one of you has a significant change in financial circumstances through inheritance or employment for example or when children come along. Our solicitors can help you to review your arrangements on a regular basis.
How do I arrange a Prenuptial Agreement?
Call one of our Family Law Solicitors who will take you through the process of registering your prenuptial agreement with us. We promise to give fair and thorough advice to all our clients.
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