Speak to a specialist prenuptial solicitor at our law firm in North Yorkshire. We can advise on prenuptial agreements and the cost of a prenup in the UK. Our prenuptial agreement solicitors are ready to help you from our offices in York, Selby, Malton and Pickering.
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Prenuptial agreements – or prenups – are documents that detail all the assets, debts and income of a couple before a marriage, and state exactly how these will be distributed should the relationship break down and the couple divorce.
What is a prenuptial agreement?
A prenuptial agreement is a contract drawn up between a couple before they actually get married. Sometimes also referred to as a pre-marriage agreement, it’s drawn up using a prenuptial agreement solicitor.
Prenuptial agreements were once only associated with ‘the world of celebrity’. Today, an increasing number of couples are proactively choosing to have prenups drawn up before they get married to safeguard their assets for the future should the relationship run in to difficulties.
Though UK judges are now viewing prenuptial agreements with increasing recognition, do note that there is already a lot of matrimonial law that courts can draw on regardless of any agreement previously made.
If you are considering having a prenuptial agreement drawn up, it is important to get the right legal advice before signing any documentation. Both parties should understand the agreement fully, make complete financial disclosure and ensure neither party signs under duress.
There are limitations to prenuptial agreements, but they are becoming increasingly popular and can play an important role in any future marital breakdown.
Why sign a prenuptial agreement?
Prenups are not just for the rich and famous. A common reason for signing a prenuptial agreement is when one spouse has significantly more wealth or assets prior to the marriage. This means they stand to lose more if the marriage ends in divorce.
A prenuptial agreement can help protect assets built up before the marriage. This can be particularly relevant where one or both parties have children from previous relationships and wish to preserve assets for their benefit.
Is a prenup legally binding in the UK?
Prenuptial agreements are technically not enforceable in UK courts. However, prenups can carry significant weight in court proceedings, and judges in England and Wales will often uphold them providing there are no issues of fairness and the agreement has been properly prepared and signed with the correct legal safeguards in place.
Our prenuptial agreement solicitors can advise on how to maximise the likelihood of a prenup being upheld in the UK.
What can be included in a prenuptial agreement?
Anything you wish to protect in the event of divorce can be included in your prenuptial agreement, including but not limited to:
- Your home
- Any other property you may own
- Debts
- Money
- Inheritance
What is the difference between a prenuptial agreement and a postnuptial agreement?
A prenup is drafted and signed before a marriage takes place. If a couple is already married and decides they need similar protection, then they can have a postnuptial agreement drafted.
This is often the most appropriate way to make changes to arrangements after marriage. Both prenuptial and postnuptial agreements are used to set out how assets should be treated if a marriage ends.
Can you change a prenup after marriage?
Yes, a prenuptial agreement can be changed, but this will depend on your circumstances.
If you wish to change a prenup after marriage, this is usually done by entering into a postnuptial agreement, which performs a similar function but is signed after the marriage has taken place.
In the UK, it is important to take legal advice when changing or replacing a prenup to ensure the updated agreement reflects your current situation and has the best possible chance of being upheld by the courts.
How much does a prenup cost in the UK?
The cost of a prenuptial agreement in the UK will vary depending on your individual circumstances and the complexity of your arrangements. You will need to speak to a solicitor to get an accurate cost for your prenup.
Where people have a variety of assets including investments, property, businesses, shares etc, then they can become complex and expensive. For high-net-worth individuals, the initial cost of a prenuptial agreement is often outweighed by the potential losses that could arise if the marriage later ends in divorce.
Get in touch with our prenuptial agreement solicitors
Contact Crombie Wilkinson Solicitors for advice about a prenuptial agreement.
Our family law solicitors in York, Selby, Malton and Pickering can assist you with both prenup and postnuptial agreements to ease any tension in your relationship.
