Prenuptial Agreements
Prenuptial Agreements – Why Are They A Good Idea?
A prenuptial agreement, or a ‘prenup’, is a formal written agreement entered into by a couple before they get married. This agreement sets out how their assets should be split if the marriage ever ends in divorce and can include details on how property, possessions, and finances should be divided.
The reasons for creating a prenuptial agreement will vary. It may be that your assets have already been badly affected by a previous divorce, or you might have children or other dependent relatives whom you wish to safeguard.
In most cases, however, those entering into a prenuptial agreement in the UK wish to protect themselves against the uncertainty of a divorce settlement. Under the current law the court is likely to see the contents of a prenuptial agreement as a highly persuasive factor when considering the appropriate financial settlement on divorce. This could lead to you paying less money to your spouse on divorce than you would if there was no prenuptial agreement.
How To Make A Prenuptial Agreement
In order to make a prenup that will stand up in court, it is essential to consult a solicitor. It is preferable for you both to review your options with separate lawyers before discussing the terms with each other.
At Pannone Solicitors, our trusted and respected legal experts will help you draw up an agreement you both feel happy with. This must be at least 21 days before the wedding ceremony, but ideally about 3 months before. However, if 6-12 months lapse after the agreement is signed and you are still not married, then it is suggested you create another one.
Prenuptial agreements will also need revising from time to time even when you are married, particularly if children are born, or if one person inherits valuable assets.
Talk to a Solicitor
Our family solicitors at Pannone Solicitors are experienced in dealing with prenuptial agreements. Whether you would like more information, require an agreement to be drawn up, or would like a prenup revised, we can help you.
Contact Pannone solicitors now on 0800 840 4929 or click here for expert advice from trusted legal advisors. We are available to take your call 24 hours a day, seven days a week.