As family solicitors, we believe that one area of English Law that should be higher on the Agenda of many couples who intend to marry is Prenuptial Agreements or ‘pre-nups’.
They are a factor that Courts in Divorce Cases will consider when determining how to deal with the assets of the family, provided the Prenuptial Agreement has been properly entered into. The same principles apply to a pre-civil partnership agreement or ‘pre-cip’.
If you are getting married, you should think hard about whether you might benefit from the certainty that a Prenuptial Agreement aims to provide in the event of separation or divorce. If you or your intended spouse has any assets that you do not want to share upon divorce, a Prenuptial Agreement can make it clear what has been agreed and what is to happen with those items. It provides for clarity about what you intend to happen in the event of the breakdown of the relationship.
If you enter into an agreement after the marriage or civil partnership, it is referred to as a post-nup or post-cip agreement. This can be beneficial where a couple have complicated financial arrangements, assets that one person wants to retain if they were to separate, or children from a previous marriage.
Our team of family solicitors have experience of helping to draw up marital agreements – as well as the consequences of not doing so should a breakup occur.
Prenuptial Agreements may appear unromantic but they can assist greatly in confirming what was intended at the start of the relationship. It is also a cost effective way of preventing an argument later on over financial matters.
The terms of the agreement can be discussed in mediation, the collaborative process or negotiations via family solicitors. Both of you must have the opportunity to obtain legal advice and there must be no pressure to enter into an agreement from either person.