With statistics showing that around half of all marriages end in divorce, it can make sound financial sense to establish a prenuptial agreement in order to regulate the division of assets in the event of a dissolution or divorce.
What is a prenuptial agreement?
A prenuptial agreement, or prenup, as it’s also known, is an agreement drawn up prior to a marriage. It clearly outlines how a couple’s assets will be divided up if and when their marriage ends. They’re not just for the rich and famous; if you have property or investments which were individually acquired before the relationship then you may wish to protect them with a prenup.
Prenuptial agreements are not currently legally binding in the UK; in the eyes of the law, when you enter into a marriage or civil partnership, all of your assets become shared and are subject to be divided equally upon divorce.
However, prenuptial agreements are increasingly being enforced in court where they have been properly prepared by a solicitor. If you want the courts to take your prenup into account in the event of a divorce then it’s something that you should carefully consider, and have drawn up several months before your wedding day.
How we can help
Here at MHHP Solicitors we have a great deal of experience in drawing up prenuptial agreements so that both parties are able to protect their individual assets in the event of a divorce.
We are also experienced in drafting other types of Nuptial Agreements such as Separation Agreements and Cohabitation Agreements (sometimes called ‘living together agreements’)
If you’re planning to get married, or live with someone, and are worried about your property or finances in the future, contact Jon Gilbert today to arrange your free 30 minute consultation.