Is considering a prenuptial agreement undermining my marriage?
We have all heard the statistics that 40% of marriages end in divorce. This might push people to make prenuptial agreements for when the ‘puppy love’ phase has ended, and the realities of a marriage sets in.
It may seem like a fairly negative outlook on what is often one of the happiest days in someone’s life. However, having an agreement made before a marriage, dealing with what will happen on divorce, may be an important safeguard for many people in a range of circumstances.
An agreement which is reached before marriage allows both parties to settle their financial affairs at a time when they have a good relationship and their decisions are not informed by bitterness.
No one plans for things to end at the outset of any relationship, but it is sensible to have an agreement which provides autonomy and can be used to govern the financial affairs after the end of the marriage.
It is perfectly reasonable to want an agreement in place, especially when wanting to protect property you have inherited, brought into the marriage or anticipate being received.
Having a prenuptial agreement in no way undermines your marriage, rather it offers protection to both parties in assisting to resolve matters if a breakdown is amicable.
It is better to be prepared for the worst-case scenario than find yourself questioning ‘what if I had set an agreement down before the wedding?’
Pre-nuptial agreement requirements
More importantly, what people do not know is that prenuptial agreements are not currently legally binding in England and Wales.
Increasingly, the courts have been more willing to place a greater amount of weight on such agreements, provided certain requirements are met.
Namely, the following, though not an exhaustive list:
- Entering into it with free will
- Being informed about the implications
- Financial disclosure between both parties
- Being made at least 28 days before the wedding; and
- Having individually received independent legal advice.
Next steps
You can contact someone in our family team who can assist in drafting a fair agreement which can meet the current standards required and adhere to the contract principles.
We endeavour to ensure you have the best possible chance of it carrying weight with the court, taking into consideration the specific circumstances of your relationship.
For more information and to find out how we can help you, please contact us on 0345 646 0406 or fill in our online enquiry form and a member of our Team will be in touch.