Pre and Post Nuptial Agreements
Do you need a Pre-Nuptial or Post-Nuptial Agreement?
Find peace of mind by deciding what will happen to your assets should your relationship break down
What is a Pre-Nuptial Agreement?
A pre-nuptial agreement (also known as a ‘prenup’) is a contract entered into by a couple before marriage or civil partnership. It sets out what will happen to their finances should their relationship break down. A pre-nuptial agreement may include details of assets, property and income as well as debts.
While prenuptial agreements are not automatically binding in a divorce court, they can be upheld or be very influential when making decisions about the division of assets. It is important to have a properly drafted and executed prenuptial agreement if you wish to rely on it in the event of a divorce.
What is a Post-Nuptial Agreement?
A post-nuptial agreement is very similar to a pre-nuptial agreement but it is drawn up after the marriage or civil partnership has already taken place.
Examples of when you may want to get a pre- or post-nuptial agreement include:
Couples entering a second marriage who wish to protect their first marriage settlements
Couples where one party has significantly more assets than the other
Cases where one or both parties have children from previous relationships and want to protect certain assets for their respective children
When one party has received an inheritance or expects to receive one
If either party is in the process of setting up a business and wish to safeguard these assets
Although a pre-nup isn’t a very romantic consideration, it does make sense to have financial predictability in the event that your relationship breaks down (which an estimated 42% of marriages do).
If you are getting married and would like to discuss your options for pre- or post-nuptial agreements, our team is on hand to help.