As the name suggests, a prenuptial agreement needs to be made before a couple gets married. Discover everything you need to know about prenuptial agreements in today’s blog and why setting one up could be for you.
What is a prenuptial agreement & do they legally protect me?
Prenuptial agreements are an increasingly popular option for couples. Whilst no one enters a marriage with the expectation to separate, with divorce rates the highest in nearly 50 years, more and more pragmatic spouses are choosing to enter prenuptial agreements.
In doing so, couples hope to reduce the risk of an acrimonious or protracted divorce should they ever separate.
What can be protected in your prenup?
No two prenup agreements are the same, they work in a way that is tailored to your individual circumstances. The agreement you have drafted can include any assets you want, including but not limited to:
- Business assets
- Personal belongings
- Stocks & shares
Is a prenuptial agreement suitable for me?
A prenuptial agreement is often used when one half of the couple has or is likely to have, significantly more assets than the other. This is usually the case for people who have a large inheritance, a landowner or a business partner.
How to make a prenuptial agreement
The first stage in making a prenuptial agreement is for you and your fiance to make a list of your financial assets. Once this is done, you should have a discussion to agree on what should happen to your joint and individual assets if you separate in the future.
Your solicitor will review the proposed terms and ensure that you fully understand what the prenup says and its implications, as well as ensuring that it is fair. Once everything has been confirmed, your solicitor will draft the prenuptial agreement, ready to be signed by both you and your partner.
Ready to arrange your prenuptial agreement? Contact us to book your initial appointment with a specialist solicitor.