Sadly, the divorce rate is rising. This means that often, when people decide to marry a second time, they want to set out clearly from the start what each party brought to the marriage and how those assets should be dealt with both within the marriage and in the event of divorce. These could include property, capital, pensions and business assets.
A properly drafted pre-nuptial agreement (sometimes called a “pre-nup”, premarital agreement, or prenuptial contract) can make sure that your intentions are clearly recorded in relation to those pre-acquired assets, and indeed any assets accrued during the marriage, so you can both enter the marriage knowing these pre-nuptial matters have been properly addressed.
As this is simply an Agreement between the two of you it is not immediately as binding and enforceable as a court order or commercial contract would be. If done properly however a pre-nuptial can be an extremely persuasive document and parties can be held to it’s terms.
The case law in this area is complex. It is, therefore, essential that a pre-nuptial agreement (or, indeed, a post-nuptial agreement, drawn up after marriage or a couple forming a civil partnership) is properly drafted with specialist legal advice.
To arrange a confidential appointment to discuss how you can best protect your assets please give us a ring on 01274 861096.