Prenuptial Agreements

Essentially, a Prenuptial Agreement (or pre nup) formalises your financial arrangements prior to you getting married or entering a Civil Partnership. The agreement details exactly what happen should the relationship break down. Now, it’s probably not the most romantic thing to do, but more and more people are going down this route, protecting themselves should the unthinkable happen.

Although not legally binding, provided Prenuptial Agreements are entered into properly, they can be highly persuasive to the Court should the marriage breakdown. Therefore, it is important that you get it right. Our Prenuptial Agreement solicitors are here to offer you specialist guidance and assistance.

Gemma Stevens

Why is a prenuptial agreement important?

Because prenuptial agreements identify how you and your future spouse or civil partner should handle the financial matters if the relationship were to break down, the prenup can provide a much clearer vision of the future. They also help to minimise disputes should the relationship end. 

It’s vitally important though, that if you and your partner are considering having a prenup written, that you follow the guidance below: 

  • Both parties should make full financial disclosure up front. An agreement like this simply won’t work if one party is hiding assets and not including them in the agreement. By assets, we mean property, investments, pensions, or money. In some situations, it may also be prudent to consider future inheritances too. 

  • Both parties should take independent legal advice. 

  • It’s important that the agreement is something that you both want, and neither party has forced the other into it. 

  • And the agreement really needs to be completed well in advance of the marriage, or civil partnership. 

Do you need a prenuptial agreement?

We absolutely know that deciding to have a prenuptial agreement written may not be the easiest task to do before tying the knot, but for some couples, it's certainly a consideration worth your time. Their biggest reason for putting one in place, is that they can avert considerable stress, hardship, and legal expenses in case of a separation.

Our specialist family lawyers are skilled in facilitating and crafting agreements that satisfy both parties' needs, and the governing legal norms. We work closely with you throughout the process, ensuring that we understand your position, your worries and concerns, and the reasoning behind the agreement. We’re then able to tailor an agreement with the objective of protecting the security of your assets, should a breakup or divorce occur.

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What can be included in a prenuptial agreement?

If you’re going through a divorce or separation, you should really need to speak with a specialist lawyer as there are a number of legal steps that need to be taken in a specific order. Securing divorce solicitors early on will also help you to take property, finance and the welfare of children into proper consideration.

Divorce can be complicated, but it doesn’t need to be destructive. Here at Nash & Co Solicitors, our divorce lawyers subscribe to the Resolution Code of Conduct. This means we encourage open negotiation and agreement, taking an approach that reduces rather than heightens tensions. In turn, this paves the way for an early resolution of difficult issues, minimising costs and ill-feeling.

What happens in the event of children?

Prenups must always protect the interests of any children involved. They often contain provisions for a review if children enter the picture, enabling the necessary adjustments to be made for their welfare.

Should your prenuptial agreement require replacement by a new one, this is typically called a post-nuptial agreement or 'post-nup'.

In divorce cases, the court's foremost concern is the children. Any agreement deemed detrimental to their well-being will likely be considered unfair. It's important to remember that you can't waive your duty to financially support a child.

Is a prenuptial agreement legally binding?

While prenuptial agreements aren't legally binding during a divorce or dissolution of a civil partnership, a court would generally uphold the agreement unless it leads to an unjust outcome. Unlike some other countries where prenuptial agreements are typically binding, in the UK, pre-marriage agreements about divorce or dissolution are not wholly enforceable.

To increase the likelihood of the court considering the agreement fair if called upon, both individuals must transparently reveal their financial standing and obtain independent legal counsel regarding the agreement and its potential effects. The agreement can be forged through mediation, collaborative law, or the traditional route of solicitors representing each party in negotiations. Our dedicated family lawyers will steer you through the process that's most suitable for your unique situation.

How a prenuptial agreement can protect your business?

An effective way to protect your business in case of a divorce is to have a solid prenuptial or postnuptial agreement in place. This agreement should clearly outline the distribution of assets, making distinct divisions between personal and business belongings.

While prenuptial and postnuptial agreements do not carry legal enforceability in the courts, if prepared correctly, they have a considerable influence in the court's decision-making process regarding financial settlements during a divorce. These agreements can have a profound impact on the court's judgments, as long as the court is assured that both parties willingly entered the agreement in a fair manner, disclosed their financial situation in its entirety, and received the appropriate legal guidance.

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