Why Get A Pre-Nuptial Before You Get Married?
A pre-nuptial agreement, or ‘pre-nup’, is a legal agreement entered into by a couple before their wedding or civil partnership ceremony takes place.
The pre-nuptial agreement provides for an agreed distribution of assets if the marriage ends in divorce. They are commonly made by wealthy people, especially where the assets of the couple prior to the marriage are very unequal; however they are becoming more popular for couples who have been previously married, for business owners and for those who have inherited wealth.
Although most of Europe now recognises the validity of pre-nuptial agreements, in theory UK law does not – the argument being that marriage is to be encouraged in the public benefit, so an agreement which presupposes divorce is contrary to the public good.
When a couple separate, the divorce courts will always attempt to divide their assets in the fairest possible way. What seemed equitable at the time of signing a pre-nuptial agreement may look very different after several years of marriage, when circumstances may have changed radically.
For this reason, the courts will decide what is fair based on the facts presented to them.
However, even though pre-nuptial agreements are considered to undermine the idea of marriage as a lifelong union, they are becoming increasingly popular.
Whilst pre-nuptial agreements are in essence not binding or legally enforceable in UK law, they are beginning to have more influence as the courts increasingly accept that they are indications of a couple’s intentions at the outset of their relationship and more and more couples are signing them.
The pre-nuptial or pre-marital contract must be entered into on the basis that each party has provided the other with full, frank and transparent disclosure of all their relevant financial and other circumstances; that they have obtained independent legal advice and that they have entered in to the Agreement or contract well in advance of their wedding date (ideally at least 3 to 4 weeks before).
Paul Wild offers a Pre-Nuptial planning appointment for £95 including VAT.
During this hour long consultation you will find out not only how they work, but also how to broach the subject with your future husband or wife.
To book your consultation please contact Paul Wild on 0118 958 9711