Prenuptial agreements are commonplace in many countries, including the US, but have traditionally been considered the preserve of celebrities and the super-rich in England.
This has now changed, however, and one in five couples now opt to enter a prenuptial agreement before getting married or entering a civil partnership in England. This increase can be attributed to many factors, for example if you own property or any form of assets before you tie the knot.
It's also extremely useful if either you or your partner have children from previous relationships, and it will almost always apply if you are marrying or entering a civil partnership later in life.
Situations in which a prenuptial agreement can be particularly useful include:
- where you or your partner’s pre-existing wealth is considerably greater than that of the other
- where your or your partner’s wealth is due to increase significantly – if either of you are expecting an inheritance, for example
- where you or your partners have children from previous relationships whose interests they wish to protect
- where a prenuptial agreement is a precondition to one partner receiving funds from a third party – an inheritance, or financial help from parents, for instance
Having said that, prenuptial agreements can be helpful to any couple wishing to clarify how their assets should be divided in the event of a marital or civil partnership breakdown. Far from being unromantic, prenuptial agreements offer a sensible, convenient way for a couple to make objective decisions regarding the division of their joint assets together, with clear heads.
They can be an invaluable tool to avoid time-consuming, costly legal disputes in the event of a split when emotions are running high. Our team of prenuptial agreement solicitors specialise in the negotiation and drafting of these agreements. We will prepare a qualifying (legally valid) prenuptial agreement based on your instructions and provide comprehensive advice on the impact and effects of the agreement.