If you are looking for pre-nup lawyers in Devon or Somerset then our team of specialists are here to help.
What is a pre-nup?
A pre-nup (or pre-nuptial agreement, to give it its full title) is a document that is drawn up by a solicitor and signed by both parties to a marriage, setting out how their assets will be divided should they divorce. The purpose of a pre-nuptial agreement is to allow parties to determine how their finances and assets should be dealt with during the marriage and what should happen to them in the event of divorce.
All assets such as property, shares and pensions can be included in a pre-nuptial agreement.
Do I need a pre-nuptial agreement?
Despite it often being thought that pre-nups are only for the wealthy, this is not the case. Many couples now use them to keep their assets separate and gain the peace of mind of knowing that their assets are protected should they decide to divorce.
Pre-nuptial agreements can be particularly beneficial for:
- those who have received financial help from family or friends to enable them to purchase a property;
- those who are anticipating future inheritance;
- those who have been married before and wish to protect their assets;
- those who wish to protect their children’s inheritance or specific assets; and
- those who simply wish to ensure that they will be returned to the financial position they were in prior to getting married.
Pre-nuptial agreements can also be used to protect one party from the other party’s debts. If the agreement sets out how each party will be liable for debts this means that pre-nuptial agreements are often used to ensure that one party’s assets are not used to pay the others debts.
Are pre-nuptial agreements legally binding?
Pre-nups demonstrate people’s ‘intention’ and are carrying increasingly more weight when the Courts are required to consider the intentions of the parties following divorce. Therefore, although they are not absolutely binding, they can be extremely useful in establishing how financial matters following divorce will be managed.
What do I need to do to ensure that my pre-nuptial agreement is valid?
Guidance has been issued by the Law Commission setting out what requirements need to be satisfied for a pre-nuptial agreement to be legally valid and binding. This includes the agreement needing to be formatted as a deed and signed by both parties, who must have received financial disclosure from each other ,along with legal advice. Our experienced pre-nup lawyers will ensure that the legal requirements are fully satisfied when drawing up your agreement.
How we can help you
We will prepare a bespoke agreement for you reflecting your specific wishes and concerns in accordance with the guidance given by the Law Commission.
For an estimate of our fees for drawing up a pre-nup please contact us on 0333 888 0419 or email us at [email protected]