How Do Pre-Nuptial Agreements Work?
It is common today to hear the phrase ‘Pre-Nuptial.’ From hearing it on the news to discussing the latest celebrity ‘pre-nups,’ these agreements have become both acceptable and commonplace.
In this article, we look at how Pre-Nuptials work, and how Pre-Nuptial Advice can assist if you’re thinking about setting one up.
A Pre-Nuptial agreement is a written contract between the parties of a proposed marriage or civil partnership.
The purpose of a Pre-Nuptial Agreement is to clarify what, and in what manner, assets should be distributed in the event of a marriage breakdown and divorce.
Although not currently legally binding in the United Kingdom, Pre-Nuptial Agreement Advice is widely available and they are considered to be an important part of many people’s marriage. The British Courts have decided in recent agreements that they are influential in assessing reasonable distribution of possessions and property – and the Courts will follow the provisions of the pre-nuptial agreement save in exceptional circumstances.
There are a number of things to consider with Pre-Nuptials.
Both parties of the agreement need their own independent legal advice. There is a need for financial disclosure and the agreement needs to be completed and signed, ideally, at least 3 months before the marriage. Click here for more information.
Depending on your circumstances, people can put a wide variety of things into a Pre-Nuptial agreement. It’s not uncommon to see information about how people would like property to be divided, where money held in bank accounts will go and which assets that are jointly owned will end up. Maintenance, and the agreed payment of maintenance for children can also come into Pre-Nuptial agreements.
Having a legal professional to preside over your Pre-Nuptial agreement is important, as they will be skilled in minimising disagreements, disputes and possible litigation issues. You will need independent legal advice from your partner – should divorce occur Burt Brill & Cardens are skilled in ensuring best results and a constructive approach for all concerned.
If you are entering into a Civil Partnership then a civil-partnership agreement can be entered into, which is similar to a Pre-Nuptial agreement. For more information about our family law services, contact us today.