Prenuptial and postnuptial agreements are contracts that two people enter into before or after their marriage. The agreements outline what will happen to their assets should their marriage fail.
There are a variety of assets that may be included in prenuptial or postnuptial agreements, including:
Prenuptial and postnuptial agreements are bespoke to a couple’s circumstances, allowing them to safeguard their assets and handle their liabilities should the relationship break down.
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When a prenuptial or postnuptial agreement is created, it is signed by both parties, and they agree to comply with that agreement should the marriage fail. However, prenups and postnups are not yet legally binding in the UK. It is possible for an agreement to be used in a court setting; however, the judge may only follow some terms of the agreement if they see fit but the court will take all of the current circumstances into consideration.
It is essential to consider that even though prenuptial and postnuptial agreements are not legally binding, by the time you get divorced, they may be, so it is essential that both you and your partner are happy with the contents.
Why a Pre-Marital or Post-Marital Agreement?
Pre-marital and post-marital agreements are beneficial for a variety of reasons, including:
- Protecting assets
- Protecting property
- Avoiding future costs
- Ensuring inheritance for your children
You will want to ensure that all of your assets are covered in your agreement to avoid disappointment in the future.
To create your prenuptial or postnuptial agreement, you should seek the advice of a trusted family law solicitor.
For further advice on prenups, post nups and other family law matters, please contact our Family Law team today in Gloucestershire and Cheltenham by calling 01452 521 286.
This blog post is not intended to be taken as advice or acted upon. If you are seeking legal advice, please get in touch with our team of solicitors