A prenuptial agreement is an agreement two people enter into prior to marriage to set out what they wish to happen to their assets should they divorce. Some people feel prenuptial agreements are pessimistic but a properly drafted agreement can save both parties time, money and acrimony.
Prenuptial agreements are not legally binding in the UK but can prove to be very persuasive in the courts provided they have been entered into correctly and they have been drawn up in an acceptable form. Courts are now increasingly recognising the legitimacy of such agreements provided:
- They are entered into in a timely fashion prior to the marriage (no less than 21 days before the ceremony)
- Each party had the benefit of independent legal advice
- The terms of agreement were fully understood by both parties
- Neither party was coerced into entering the contract
- There has been full and frank financial disclosure of each party’s assets, liabilities and income
- The court agrees no injustice would be served by entering into the proposed terms
Our team of family solicitors have considerable experience drafting prenuptial agreements. If you are considering a prenuptial agreement or have signed a prenuptial agreement and would like advice our lawyers can help you.
