A prenup sets out what should happen to a couple’s assets and income in the event that their marriage or civil partnership breaks down. They can help to bring certainty to couples thinking about marriage or a civil partnership and they can save time and money should the relationship break down.
Since the landmark Radmacher case in 2010 prenups are generally enforceable as long as they are fair.
How do you know if the agreement is fair? Some basic principles include:
No one getting married wants to think about separation but no one wants protracted litigation should a relationship break down. Without a prenup the Courts have a very wide discretion as how they distribute property and income, regardless of the legal ownership, or consideration of who brought what into the relationship. The best way to ensure you protect yourself is to enter into a prenup.
Like prenups, postnups deal with the division of assets and income in the event of a relationship breakdown, but are entered into during marriage rather than before.
If you are thinking about entering into a prenup or postnup it is important to take legal advice so that you can be sure that what you are agreeing to is fair. The Courts are unlikely to uphold an agreement that has been signed without both parties having the benefit of legal advice. Only with legal advice can you be confident that the agreement should be enforceable.
For further advice on obtaining a pre-nuptial or post-nuptial agreement, please contact Louise Allard or Sabrina Bailey on 020 7993 2936.
Filed Under: Insight