Before getting married it is important that you and your future husband/ wife or civil partner consider a pre nuptial agreement.
What is a Pre nuptial Agreement?
It is a document which sets out what you and your future husband/wife or civil partner agree should happen to your finances if your marriage breaks down and you go your separate ways. Pre nuptial agreements can provide a valuable means of helping to protect pre marriage assets, inheritance and existing family commitments such as responsibilities to children from a previous relationship.
What will the agreement cover?
A pre nuptial agreement must set out full details of your assets and income, how they are owned at the time of the marriage and what will happen to them in the event of relationship breakdown. It sets out:
Are pre nuptial agreements binding?
Where parties cannot agree on financial issues the Court still has the final say and is able to override a pre nuptial agreement. The Court must consider all the circumstances of the case and decide on what is a fair outcome.
Although it is in the Courts discretion to make an order reflecting the terms of a prenuptial agreement, recent case law has shown that a properly drawn up pre nuptial agreement is an increasingly important factor that the Court will take into account.
What are the requirements for a prenuptial agreement?
Is it for me?
Pre nuptial agreements are particularly relevant where:
For more advice on pre nuptial agreements contact one of our family lawyers at your local office.