Prenuptial agreements are set up for a number of reasons, ranging from protecting existing wealth gained prior to a marriage, to protecting family assets from a previous marriage to ensure that those assets are passed down to children from that previous marriage.
Our specialist family lawyers can advise you on all aspects of prenuptial agreements, including whether they are suitable for your circumstances, and the steps you must take to try and ensure that the agreement is taken into consideration in the event of a divorce or separation.
To be effective, a prenuptial agreement must be entered into willingly by both parties. The agreement will set out how the couple's assets will be divided in the event of a divorce or separation.
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Prenuptial Agreements - the Law in England
Prenuptial agreements are not currently legally binding in England, however they can still be effective and are therefore becoming more commonly used. In many cases, as long as certain safeguards are met, prenuptial agreements are taken into account or upheld by the Courts. In order for a prenuptial agreement to be effective it is important that the following safeguards are met from the outset:
- Both parties to the agreement receive independent legal advice about the agreement.
- Neither party was put under pressure sign the agreement.
- Full financial disclosure of both parties assets must be made prior to the agreement
- The agreement has to be fair. If the proposed division of assets is weighted heavily in the favour of one person, it could be judged to be unfair by the Courts.
- There has been no significant change during the marriage (such as the birth of children) which would make the agreement inappropriate.
For more information please contact us to speak to one of our family lawyers.