5 Things You Need to Know About Prenuptial Agreements

We understand that nobody wants to begin a marriage thinking about everything that could go wrong and what could happen if it doesn’t work out. Unfortunately, the reality is that divorce does happen. When a marriage does end, it’s already an extremely painful and difficult time. Agreeing on the split of finances and other assets can often be an acrimonious process. So, it’s a good idea to enter into a prenuptial agreement before the wedding or civil partnership ceremony. 

Here at John Fowlers Solicitors, we have a team of experienced solicitors who can advise you on your prenuptial agreement and ensure your agreement is legally binding. The clear understanding of how all assets will be divided in the event of a separation can help couples to feel more secure and reassured. We understand that the idea of a prenuptial agreement can be a little confusing and overwhelming which is why our team has put together some useful information on prenuptial agreements…

A prenuptial agreement is a legally binding contract between you and your partner that is signed prior to getting married. The purpose and intention of a prenuptial agreement is to outline the ownership of your respective assets and finances in the event of a divorce. Typically, income, debt and all assets are covered in a prenuptial agreement which can help couples to avoid any financial surprises. 

You might want to consider entering into a prenuptial agreement to determine how property, assets and finances will be dealt with in the event of a divorce. A prenup can help you both to protect wealth in the event of a divorce or separation. 

A prenuptial agreement can cover a wide variety of issues. It’s a good idea to seek advice from an experienced and trusted solicitor who will be able to advise you on what is appropriate to include. You may find that a premarital agreement includes information on property, money and debts. It might also include details about inheritance and children including what rights children from a previous marriage may have to any property or assets, if the current marriage was to break down. 

Whilst an agreement does tend to cover a wide range of issues, you’ll find that there are strict rules on what can and cannot be included. It’s important to consider these rules when creating the prenuptial agreement as failing to do so can result in the agreement being overlooked in court. Some issues that cannot be included in a prenuptial agreement include personal, illegal or lifestyle matters. You also will not be able to include anything surrounding child custody or support as this isn’t deemed appropriate to add in a prenuptial agreement. 

A prenuptial agreement needs to be drawn up and signed with all assets disclosed well in advance of the wedding or civil partnership ceremony. If you fail to do this, you may find that your agreement will not be upheld by the court. So, if you’ve recently got engaged it’s important to consider a premarital agreement and get in touch with a solicitor as soon as possible. 

John Fowlers Solicitors is proud to have over 90 years experience providing a wide range of legal services in Colchester and across Essex.

Ready to arrange your prenuptial agreement? Contact us to book your initial appointment with a specialist solicitor.