A pre-nuptial agreement is a legal document drawn up by a couple before marriage. The document deals with how each asset will be handled and possibly divided in the case of a relationship breakdown and subsequent divorce.
The assets might include property and income. It aims to prevent any nasty surprises from arising should the relationship break down and provides clarity for both parties in the event that the relationship should break down.
What is typically included?
It is important to note that pre-nuptial agreements vary depending on the parties’ individual and joint assets as well as their personal feelings about the distribution of their assets.
Typical agreements include:
- The protection of inheritance
- The protection of assets
- The protection of savings
- Protection from a partner’s debts
- Other factors relating to the couple’s circumstances.
What are the benefits of having a pre-nuptial agreement?
Pre-nuptial agreements can help protect your or your spouse’s individual wealth in the event of a separation or divorce.
They can also help determine how property and finances will be dealt with during the marriage.
For those in civil partnerships, pre-registration agreements can be drawn up similarly.
What should I include in my pre-nup?
A pre-nuptial agreement tends to include an inventory of each partner’s assets. It then goes on to state how each party would wish their assets to be dealt with should the marriage end in separation or divorce.
The agreement should outline any assets the parties would prefer not to be divided between them.
Generally, it may include:
- Any property held jointly or solely
- Savings
- Premium bonds
- Any expected inheritance
- Stocks and shares
- Pensions
- Income
- Business interests
- Spousal maintenance
- Belongings
- Any other relevant assets
Some things cannot be accounted for in a pre-nuptial agreement.
These might include:
- Child custody arrangements, including visitation and preferences relating to religious upbringing or schooling
- Child support arrangements
- Illegal matters
- Lifestyle arrangements
How do I amend my pre-nuptial agreement?
Unfortunately, it is not possible to amend a pre-nuptial agreement once it has been agreed upon or one is married.
If you find that you wish to amend a pre-nuptial agreement, for example, if your financial situation should drastically change, you can create a post-nuptial agreement. Find out how Beverley Morris & Co. can help you with your post-nuptial agreement here.
How do I write a pre-nuptial agreement?
Always seek advice and assistance from an expert family solicitor when writing your pre-nuptial agreement.
When drafting the agreement, you should always seek legal advice independently from your partner to reduce the risk of a conflict of interest.
Both parties should also ensure they fully understand and willingly sign the agreement.
Pre-nuptial Agreement Solicitors Blackheath
Contact the brilliant family law team at Beverley Morris & Co. in Blackheath for assistance with writing your pre-nuptial agreement. We have extensive experience drafting and finalising pre and post-nuptial agreements to fit your and your partner’s needs perfectly.
Please call 020 8852 4433 or email enquiries@beverleymorris.co.uk today.