If you’re married or in a civil partnership, or you’re engaged, you may have or be considering a prenuptial agreement. These agreements can be complicated and a little unclear, so our divorce financial experts have put together this guide so you can better understand prenuptial agreements, and ensure yours is valid. Find out more below.
What is a prenuptial agreement?
A prenuptial agreement is a formal, written agreement between you and your partner that is made before you get married. It sets out both of your possessions and finances and outlines how they will be divided if you divorce in the future.
How can I make a prenuptial agreement?
In the UK, prenuptial agreements must be drawn up by a qualified solicitor. To ensure that both parties get a fair deal, each partner must have their own solicitor. All of your assets and wealth need to be disclosed in order to ensure that the agreement is fair, and it must be signed at least three weeks before you get married.
What makes prenuptial agreements legally binding?
To be legally binding, a prenuptial agreement must be:
- Fair to both parties
- Honest, disclosing all assets of both parties
- Drawn up by a legal professional
- Signed at least three weeks before the marriage
- Entered into willingly
It’s worth noting that any prenuptial agreement can be dismissed by a judge in court if it is considered to be unfair, or does not meet any of the conditions outlined above.
How does a valid prenuptial agreement help during a divorce?
If you do split up with your partner in the future, a prenuptial agreement can help to speed up the process. This is because what happens to your assets has already been decided, so there is no need to negotiate this in court.
If you’re going through a divorce, it’s important to involve the experts. Your lawyer will be able to instruct one of our forensic accountants who have a wealth of experience in this area and can work with your lawyer to help to uncover any hidden assets that may affect you.