It is widely acknowledged that cuts to the Ministry of Justice budget have resulted in a creaking court system. The family courts are under particular strain. Cuts to the Legal Aid budget have filled the courts with litigants in person – people...
Pre-Nuptial Agreement’s were once only associated with ‘the world of celebrity’. Nowadays an increasing number of couples are proactively choosing to have agreements 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 Pre-Nuptial Agreements with increasing recognition, do note that there is already a lot of matrimonial law in place which the court can draw on regardless of any agreement previously made.
What is a Pre-nuptial Agreement?
Sometimes also referred to a Pre-Marriage Agreement, a Pre-nuptial Agreement is a contract drawn up between a couple before they actually get married. It is drawn up using a solicitor and details all the assets, debts and income of each individual and together and states exactly how these will be distributed should the relationship break down and the couple divorce.
If you are considering having a Pre-nuptial Agreement drawn up, make sure you get the right advice for you and your circumstance before you commit to signing any documentation. You must make sure you know what you are signing up to and that neither party signs under duress. It is important that both people make a full financial disclosure. There are limitations to pre-nuptial agreements but they are becoming increasingly popular and can play an important role in any future marital breakdown.