A prenup is an agreement reached before the date of a marriage to decide the distribution of assets in the event of a divorce. It can give both parties peace of mind going forward. It is usually there to protect pre-marital assets such as preowned property, or business interests or inheritances received prior to marriage. We advise a minimum of 3 months prior to marriage, to ensure there is time to prepare financial disclosure and avoid any subsequent concerns over timeframes/duress (any agreements need to be signed at least 28 days before the marriage).
A postnup is sometimes required if the parties decide on a prenup but don’t leave enough time to complete it before the wedding date. If you or your partner receives a big inheritance a postnup can delineate how this asset would be divided in the event of divorce. Or if one partner takes on a lot of debt, a postnup can determine who should be responsible for this liability.