Pre-marital Agreements, or Pre-nuptial Agreements as they are known in the United States , are entirely distinct from Cohabitation or Living Together Agreements (dealt with elsewhere on this site) and should not be confused with one another.
If a cohabiting couple decide that they wish to marry but nonetheless wish to regulate their financial and property affairs after marriage, then they should consider entering into a Pre-marital Agreement. They are relatively easy to draw up and can lead to thousands of pounds being saved in the future should things not work out between the couple.
Ultimately, if a divorcing couple can't reach an amicable settlement then the dispute will be decided by the Court, and under current law Pre-marital Agreements are not binding. However, that is not to save that they are a waste of everyone's time and money. Far from it. Pre-marital Agreements can be very persuasive in court if they are prepared correctly. As with any contractual arrangement, we can advise you on the various steps that need to be taken to ensure that if you need to rely upon such an agreement it will carry maximum possible weight with the divorce Judge.
When planning a wedding no one wants to think about the possibility of the marriage failing, but divorce statistics speak for themselves. Perhaps they are saying that more people should include a Pre-marital Agreement in their budget alongside the flowers, the cake, the photographer and the honeymoon?