If you’re worried about what will happen to your finances or assets during your marriage or in the event of a divorce, you should consider a prenuptial agreement. It can also protect your or your spouse’s wealth in the event of a divorce. They provide couples with more certainty that their assets will be dealt with accordingly rather than leaving it up to the courts. You should discuss your thoughts with your partner first and weigh up the pros and cons, as it may seem like a difficult subject to broach. However, if you are concerned about your finances, it is a sensible option.

You may have seen public celebrity divorces on the TV, and how much money they can end up costing. Prenuptial agreements can help avoid this, allowing you and your partner to have as clean a divorce as possible. Here at Van Eaton Solicitors, we can talk you through the prenuptial agreement process, as well as providing expert advice and mediation should your marriage break down. To find more about our family law services, please visit us here.

What Can and Cannot be Included?

Prenups usually contain a list of your assets and details on how you wish for them to be looked after during your marriage and how you wish for them to be distributed in the event of a divorce. If there are things that you do not wish to split with your partner in the event of a divorce, you should still include these in your prenuptial agreement. Clauses usually include, but are not limited to:

• property held in your name or jointly owned

• savings and inheritance

• pension

• income

• business interests

There are still elements that you should avoid including in a prenup, as your agreement may not be taken seriously in court. Issues that cannot be brought up in a prenup include:

• child custody issues such as visitation

• illegal matters

• lifestyle points

Are Prenup’s Legally Binding?

In the UK, prenups are not legally binding. However, they are becoming more accepted by courts as proof of the couple’s intentions should they divorce in the future. In 2014, the Law Commission published a report entitled “Matrimonial Property, Needs and Agreements” which states that certain criteria must be met for the agreement to be enforced. These include:

• The contract must be contractually valid and entered willingly by both parties

• It must be made by deed and include a statement signed by the couple that they understand that the agreement is enforceable

• It must not have been made within 28 days before the marriage

• Both parties must have received independent legal advice at the time that the agreement was formed

If you need advice making your prenup, and you need it to be contractually valid, you should seek the help of a qualified litigation solicitor as soon as possible. If you would like advice, please get in touch with us today by calling 0208 769 6739. Alternatively, you can fill out our online contact form here.