What is a Prenuptial Agreement?
A prenuptial agreement is a contract that you enter into before you marry. It’s a record of ownership of assets and sets out what you feel should happen to these assets should your marriage break down.
Anyone can seek a prenup and there are many reasons why you should consider signing one before you get married.
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What does a Prenuptial Agreement Cover?
Prenups can cover a range of assets. When drawing up an agreement, we will advise you on what is appropriate to include.
- Property – any property that either spouse brings to the relationship should be considered
- Money – any money or investments help
- Debts – it should not just safeguard assets but also protect against the other spouse’s debt
- Children – it can dictate what rights children from previous marriages/relationships have over assets
- Business Interests
Is a Prenuptial Agreement Legally Binding?
It’s important to note that while prenups are legal documents that will be considered by the Courts when prepared correctly, the Court may choose to divide a couple’s differently to how it is set out in the prenuptial agreement. If the prenup should place either spouse in a position of financial hardship after divorce, the Court will take this into consideration and decide if they should be held to the terms.
We can assist and advise in ensuring that your document is fair in your circumstances and more likely to be upheld by the court in the future.
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Jessica is an Associate Solicitor and has specialised in family law throughout her career