A “prenup” or Prenuptial Agreement is a contract entered into before marriage/civil union usually setting out the terms on how to divide property or spousal support in the event of divorce or breakup of marriage. The terms can vary widely but can include many eventualities including conditions of guardianship or forfeiture of assets in the event of divorce on the grounds of adultery.
In order for a prenuptial agreement to be recognised by the courts certain criteria need to be met.
- Prior to entering into the agreement, both parties must receive independent legal advice, therefore, both parties must instruct their own solicitors.
- Both parties must have made full and frank disclosure of their respective financial positions. This is usually done by way of a schedule, which can be attached to the agreement, setting out all the relevant financial details including assets, liabilities, income and pension entitlement, etc.
- Neither party must be put under any pressure to enter into the pre-nuptial agreement.
- The agreement should be completed at least 21 days before the wedding.
- The agreement must be realistic and fair. If the agreement is weighted too far in favour of one person, there is little chance of it being upheld by a court in any potential divorce proceedings.
Whatever situation you are in you need to talk your options through and we will help work out what is best for your situation. We always offer free initial advice so call us on 01772 424999, email enquiries@solicitordirect.com or use the form below and we will call you back:
