Prenuptial Agreements, often referred to as ‘prenups’, are contracts entered into by a couple before they get married or enter into a civil partnership. The primary purpose of a Prenuptial Agreement is to state how the couple’s assets should be split if their relationship breaks down in the future.
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Prenuptial Agreement Solicitors
At Birch & Co, our Prenuptial Agreement solicitors have assisted countless clients with preparing legally effective, watertight Prenuptial Agreements that protect their interests in the event of a divorce or civil partnership dissolution. With decades of experience in all aspects of family law, we offer a first-rate service at highly competitive rates.
Do You Need A Prenuptial Agreement?
Traditionally considered the preserve of the super-rich, Prenuptial Agreements have gained considerable traction with couples from all walks of life in recent years. They offer a cost-efficient means through which couples can document how they wish their assets to be divided if their relationship ends and can significantly reduce the risk of lengthy, expensive legal battles.
While they can be a valuable tool for all couples, they are particularly useful in the following circumstances:
- You want to protect the interests of your children from a previous relationship;
- There is a considerable disparity between your and your partner’s financial positions.
- You are due to become significantly wealthier, for example, because you are due to receive an inheritance.
- A third party from whom you are due to receive money makes a Prenuptial Agreement a condition of providing those funds.
If you are wondering whether a Prenuptial Agreement might be useful in your situation, our Postnuptial Agreement solicitors are on hand to discuss your circumstances and provide the advice you need.
Do Any Time Limits Apply To Postnuptial Agreements?
The earlier you enter into your Prenuptial Agreement, the better. If you leave it too late to finalise and sign your agreement, it may hold less weight in the event you wish to rely on it in the future.
If you do not turn your mind to the need for a Prenuptial Agreement until close to your ceremony date, it might be advisable to wait until you are legally married or in a civil partnership and enter into a Postnuptial Agreement instead. Postnuptial Agreements serve the same purpose as Prenuptial Agreements, but the parties enter into one when their legal union has already taken place.
What Should Your Prenuptial Agreement Address?
The issues to be addressed by your Prenuptial Agreement will depend on your circumstances but will likely include some or all of the following:
- How your money should be divided. This can include funds held in bank accounts, savings, and investments.
- What your children will receive. Individuals with children from previous relationships often use a Prenuptial Agreement to ringfence specific assets for their children’s benefit.
- How your property should be split. Some couples use their Prenuptial Agreement to control what should happen to the family home if their relationship ends and how any property held solely in one partner’s name should be dealt with.
Are Prenuptial Agreements Enforceable?
Clients are often concerned about the enforceability of their Prenuptial Agreement in the event that their marriage or civil partnership ends. Rest assured; as long as your Prenuptial Agreement meets the applicable legal requirements, it will likely be enforceable against your ex-partner in the event of a split. At the very least, the Court will give decisive weight to the parties’ intentions as detailed in the agreement when deciding how to divide your assets.
To give your agreement the best chance of being enforceable, you should consider various factors, including the following:
- Is the agreement fair and reasonable to both parties?
- Does the agreement meet both parties’ financial needs?
- Does the agreement prejudice the needs of any children?
- Did both parties take independent legal advice on the effects of the agreement?
- Is the agreement a valid legal contract?
- Did you sign the agreement in sufficient time before your ceremony?
- Did both parties give complete disclosure about their finances?
Taking legal advice from experienced Prenuptial Agreement solicitors like ours will ensure your agreement fulfils the applicable legal criteria. We will advise on the issues you should cover in the Agreement and prepare a document that effectively safeguards your interests. We will ensure you understand and are happy with the effects of the agreement before you sign. If your circumstances change in any material way, for example, you have a child, or you become considerably better off, you should consult with your Prenuptial Agreement solicitor about whether any changes should be made to your agreement to ensure it remains relevant.
Reach out to Birch & Co’s specialist and supportive team today. Call us on 0191 284 5030 or complete a Free Online Enquiry now to get a bespoke fixed price estimate.
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