Pre-nuptial agreements are not the most romantic of topics to consider when you are planning your big day. Unfortunately divorce is now a fact of life, and it may be worth having a conversation now about what you might want to happen should the relationship fail, to avoid a much more painful and perhaps costly conversation in the future.
It is a formal agreement freely entered into by the parties before a marriage or civil partnership stating what would happen to each party’s assets and any jointly owned assets should the marriage or civil partnership unfortunately break down. It helps to provide certainty to the parties and is indicative of their intentions at the outset.
Pre nuptial agreements are likely to be enforced at the breakdown of a relationship unless the court finds that the terms are unfair for any reason.
Pre nuptial agreements are generally used to protect one party’s assets that they are bringing into the marriage or civil partnership. For example, if you have inherited assets, or are marrying for a second time, or have children and you want to protect/safeguard your assets should the relationship break down, then you may want to consider entering into a pre nuptial agreement.
We would suggest that it is better to have one than not. No-one enters into a commitment with someone else with the view that it will fail, but relationships do fail. Perhaps it should be considered like an insurance policy, hopefully something you will never need, but there if you do.
At Humphries Kirk, we can assist you in the preparation of a pre nuptial agreement or give you advice should your other half wish you to sign a pre-nuptial. We can advise you on what is required for a pre-nuptial agreement to be enforced by a court. Above all, we can give you clear legal advice on this issue.