What is a prenuptial agreement and why should I get one?
Posted on 26th August 2021
Looking to learn more about prenuptial agreements? Our specialist Family Law solicitors explain everything you need to know here.
Prenuptial agreements, or prenups, are documents made before a marriage that establish who will what assets throughout the marriage and in the case of a divorce. Previously, many people thought of prenuptial agreements for only the mega-rich who wanted to protect their millions when they got married, but they are becoming much more popular for regular people.
Our specialist Family Law Solicitors have helped many couples in the drafting of their prenuptial agreements, ensuring that each party involved is happy with what is involved and understands the process fully. In this post, our family law team run through what prenups are, how they work, and how they could help you.
What is a prenup?
The prenuptial agreement can outline what will happen to a number of assets if the marriage was to break down.
The agreements can include a number of things, including:
Assets owned before marriage
Expected inheritance money
Stocks and shares
Assets being held to be inherited by children from a previous marriage or relationship
Are prenups legally binding?
Under UK Law, prenups are not yet seen as legally binding documents. However, one groundbreaking case in 2010 changed the path of prenuptial agreements, and played a huge part in their recent popularity. The Radmacher v Granatino case in 2010 saw the prenuptial agreement given ‘decisive weight’ in the divorce proceedings, and essentially withheld as a decisive document.
Without legal reform, which could come into play by the time any previously made prenups are going through the courts in divorce proceedings, the agreement is not considered to be legally binding. Still, this case provides promising evidence for the fact that the agreements can hold legal weight in divorce proceedings.
Why should I make a prenup?
There are a number of advantages to entering into a marriage with a prenuptial agreement in place. Some of the advantages, as listed by our specialist Family Law solicitors, are:
You are able to keep any savings or future inheritance safe
Any assets that would be difficult to split 50/50 can be accounted for to prevent potential problems
One party owns a business and can protect this business
Any debts of one party avoid being made passed onto the party
How long does a prenup last?
How do I make a prenuptial agreement?
If you are looking to make a prenuptial agreement before a marriage, you will need the help of an expert family law solicitor. If the prenup is not written by a qualified solicitor who specialises in family law, then it would be unlikely to be upheld in court.
So, if you need help with the drafting of your prenup, or simply want to speak to a family law solicitor about how we can help you, and what our tailored prenup services include, then get in touch with MG Legal today, here, or email us at firstname.lastname@example.org .
Our Family Law team have over 20 years of experience, and are ready and willing to help with you prenup needs.
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