No one getting married likes to think that it might end in failure, but sadly many relationships will irretrievably breakdown. Prenuptial agreements are a common sense step you should take to protect your personal and business assets should you eventually divorce.
Our family law lawyers draft individually tailored prenuptial agreements for clients who are about to either marry or remarry. With prenuptial agreements it is very important that both parties take independent legal advice (from separate solicitors) before an agreement is signed. The agreement should be signed at least three to six weeks before the wedding is to take place.
Within the prenuptial agreement there needs to be a full and frank disclosure of both parties financial assets and there must be considered planning both for existing children of both parties and for any further children the marriage may produce.
Why do I need a Prenuptial Agreement?
Anyone who has assets, such as a home, business or investments, can benefit from the protections a well-drafted prenuptial agreement can give them. For high net worth individuals with significant personal assets and business interests or couples in which there is a great difference in income or assets, prenuptial agreements are a highly sensible option. Pre-nups also make particular sense for those entering into second or subsequent marriages who may well desire to protect the inheritance rights for their children from an earlier relationship.
Pre-nups are not currently considered to be legally binding but when they are freely entered into and have been clearly drafted courts are increasingly taking account of them and upholding the provisions they make.