Using a prenuptial agreement for protecting assets in a marriage.
A prenuptial agreement is not about planning for failure, it’s about planning for the future – creating a safety net that allows both spouses to focus on building a life together with confidence. By protecting your assets, clarifying financial responsibilities, and reducing potential legal disputes, a prenup can provide the peace of mind you need.
In England and Wales, prenuptial agreements are not automatically legally binding, but the courts will give significant weight to a properly drafted and fair prenup if the marriage breaks down.
In the recent case Jenny Alzena Helliwell v Simon Graham Entwistle the Court of Appeal highlighted that a prenup or a postnup remain the best way of protecting assets in a marriage for high net worth and high earning couples.
The key elements of a prenuptial agreement
The Court of Appeal emphasised the key elements of a prenup:
- It is entered into voluntarily and not under duress;
- The parties made full financial disclosure of their assets;
- The agreement is fair and reasonable to both parties at the time it is signed and at the time of divorce;
- Both parties sought independent legal advice; and
- The agreement is entered into at least 28 days before the wedding.
The other practical benefits of a prenup
You should also consider the other practical benefits of a well drafted prenup:
- Clarity of financial expectations to avoid misunderstandings;
- Encourages open communication about finances and future plans for the family;
- Protection of your assets, business interests and future inheritance;
- Help with debt management if one party has significant debts;
- Minimises legal costs and emotional distress when a marriage breaks down.
How we can help prenuptial agreements for protecting assets in a marriage
It’s important to consult with an experienced family law solicitor who can guide you through the process and give you the best chance at the prenup being upheld by the court should the marriage breakdown.
Our family law team is here to help.
Call our legal helpline on 0333 888 0404 or send brief details to us by email and we will be happy to set up a free consultation with one of our specialist family lawyers.
