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Pre-Nuptial Agreements – are they necessary?

Posted: 19 May 2023

When Pre-Nuptial Agreements, or ‘Pre-Nups’ are mentioned, people often think of celebrities safeguarding their millions. In America, Pre-Nups are more common as they hold great weight in American Courts. In the UK, Pre-Nups are not quite as powerful yet but there is often a negative stigma surrounding them.

Pre-nuptial Agreement

What is a Pre-Nuptial Agreement?

Pre-Nups are often very lengthy documents setting out how assets and capital will be divided in the event of a divorce. They are usually drafted before parties get married so there is a clear plan of what will happen should the parties separate. Without a Pre-Nup, marital assets are usually divided equally between the parties so a Pre-Nup can protect certain assets.

Are they legally binding?

In short – yes. However the Court do have the power to veto the contents of the Pre-Nup for a variety of reasons. These can include poor drafting, coercion, bias towards a party or one party failing to obtain proper legal advice. Whilst is can be difficult to prove a Pre-Nup is invalid, it is important not to assume that all will run smoothly.

Should I get a Pre-Nuptial Agreement?

Pre-Nups are often beneficial in situations where perhaps one party has been married before or those marrying later in life where they have already acquired many of their assets but they aren’t exclusive to these circumstances. It may seem a negative thought, but planning ahead in the event of a separation is sensible and can avoid any litigation or animosity later down the line. If you have assets you want to ensure are protected then you should consider a Pre-Nup. People often assume Pre-Nups are sneaky or designed to put another party at a disadvantage but it is simply a way to plan for any potential issues in the future.

How do I get a Pre-Nuptial Agreement?

It is imperative Pre-Nups are drafted properly by a legal professional. Any issues with drafting or legal advice could lead to the Pre-Nup being invalid. We can assist with the drafting of a Pre-Nup and often recommend meeting with us so we can go through all of the assets and aspects to address. Pre-Nups can take some time to draft so it is important to ensure you get in touch in good time before the wedding.

If you need advice about a Pre-Nuptial Agreement, finances or divorce then contact us on 01245 493 959 to speak with one of our Family Team.

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