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At Ansham White Solicitors, our family team of Solicitors and Lawyers will be able to assist you if you wish to have a pre-nuptial agreement drafted.
Our family law legal specialists regularly prepare and advise our clients on the advantages and disadvantages of entering into a pre-nuptial agreement and on its enforceability in the UK and internationally. A pre-nuptial agreement (or ‘prenup’) in the UK is a document drawn up between a couple before their marriage to outline how each of their assets will be divided between them in the event of a divorce.
Assets including property, debts and income are usually covered in a typical pre-nuptial agreement to help couples avoid any financial surprises if the relationship were to break down in the future.
Pre-nuptial agreements are often put in place when one partner already has, or is likely to acquire, more assets than the other. For example, those with a large inheritance, landowners, business owners or those entering into a second marriage or partnership may look to get one.
What is the purpose of a pre-nuptial agreement?
The key purpose of a pre-nuptial agreement is to provide clarity for couples around how their assets will be divided in the event of a relationship breakdown.
Typical pre-nuptial agreement terms cover:
-Protecting a child’s inheritance or specific assets of an individual
-Giving you both a say in how assets will be split if you decide to divorce
-Allowing one partner to retain full control of business ownership/ assets
-Protecting inherited money, assets, or savings, particularly from high value estates
-Protecting you from your partner’s debt
Therefore, a pre-nuptial agreement’s purpose is to set out what should happen in respect of the finances, living arrangements and perhaps the arrangements for the children in the event that the parties decide to separate and end their marriage/civil partnership. The equivalent agreement for those entering into a civil partnership is called a pre-registration agreement.
The aim of the agreement is to safeguard the interests of both parties and limit their exposure to financial risk in the event that a marriage/civil partnership ends. This is achieved by providing a degree of certainty in advance and avoiding potentially expensive litigation. Therefore, a prenup is sometimes viewed as a form of insurance policy against litigation which can be costly.
In more recent years, we have seen an increase in clients whom have an international element to their assets. In these circumstances our immigration department is also able to advise on any necessary visa applications where the intention is that the couple will live in England and Wales after the ceremony.
Please call us today to arrange an initial fixed fee consultation, our family team will be more than happy to help. We have offices based in North Harrow and the City of London which have nearby parking and good transport links. If you are calling from overseas or are unable to attend our office, we are able to conduct a video consultation via either Zoom or Microsoft Teams.
For further information on pre-nupital agreements, please follow the URL to our blog post.
Introduction Wills are intended to be the final word on how a person’s assets are distributed after their demise, providing a sense of closure and