Prenuptial Agreements
Although it may seem somewhat cynical to prepare an agreement in advance of your wedding that deals with what would happen in the event that your marriage breaks down, it can in fact be of extreme benefit, particularly for couples marrying for a second time or where there are assets that have been for example inherited. A prenuptial agreement can detail specifically how you want your finances to be dealt with in the event of your relationship breaking down and whilst at present they are not binding on the Court following divorce they can depending upon the circumstances surrounding their creation and the length of time since their creation be very persuasive to a Court. As is the case with many things we have an eye to America where prenuptial agreements are binding and the prevailing thinking in this area professionally is that they will become more and more persuasive.
Inevitably a prenuptial agreement is specific to the couple involved. Both you and your fiancé will need to take independent legal advice in connection with the preparation of a prenuptial agreement, that does not mean that it needs to be confrontational or antagonistic.
We would urge all newly engaged couples to at least consider whether a prenuptial agreement would be appropriate in their circumstances.
For more information on prenuptial agreements please contact a member of our team.
The contents of this fact sheet are general principles and do not constitute legal advice. Every case is different and you should seek independent legal advice in relation to your specific circumstances.