Pre and Post-Nuptial Agreements are becoming increasingly common in the UK for couples hoping to avoid the financial complications which often arise when a marriage breaks down.
Whilst there has been a perception surrounding such Agreements that they are somewhat unromantic, the reality is that they can reduce the time, expense and acrimony commonly experienced with divorce settlements. They can be particularly useful in second marriages where one partner may be bringing significant assets to the relationship, or where provision needs to be made for children from a previous relationship.
The UK is unique when compared to the approach across most of Europe and the world when dealing with Pre and Post-Nuptial Agreements. Across most of Europe and the world they are binding, however in the UK the Courts have the power to make alternative decisions if an agreement is unfair or does not meet someone’s needs. However, there has to be a good reason to do so and it is not something courts would consider doing lightly. What this means is that it is of crucial importance that any such agreement is drafted properly so as to avoid the possibility of the court either failing to uphold it or varying its terms.
A Pre-Nuptial Agreement turns into a Post-Nuptial Agreement after the marriage, and we advise that you review the agreement from time to time as circumstances can change, such as the birth of children.
Should you wish to know more about such agreements, please do not hesitate to contact our prenuptial agreement lawyers for an appointment where you will be guided through the process, or click here for more information.
