There's more to a wedding than the table arrangements; marriage is also a lawfully binding agreement. Blaser Mills LLP is a leading law firm that have experienced marriage and, divorce and family law experts to help with everything marriage law.
When planning a wedding, it is easy to get caught up in a whirlwind of excitement, from choosing the venue, to deciding on the colour of the flowers in the bridesmaid’s bouquets. Both society and media are quick to rose-tint your ideas of planning a wedding, but it isn’t to be underestimated; after all it is a legally binding agreement between two people. Whether you are The Beckham’s or not, pre-nuptial agreements are something to be considered by everyone.
A prenuptial agreement is not the first thing many couple’s would think about when preparing to enter into married life together. After all, it is not very romantic to consider the end of something before it has even started. However, a pre-nuptial agreement is a way to give you and your partner peace of mind about what will happen to your assets, wealth and the welfare of any children, if your marriage or civil partnership does not work out.
What is a pre-nuptial agreement?
- A prenuptial agreement or ‘pre-nup’ is a contract entered into before marriage or civil partnership that seeks to define each partner’s respective assets to help pre-determine how they would be divided in the case of a divorce or dissolution of the civil partnership;
- Contracts can cover assets acquired both before and those likely to be acquired during the marriage or civil partnership e.g. past and future inheritance;
- Prenuptial agreements, although not strictly legally binding in England and Wales, can act as a very persuasive tool when a Court is deciding on the division of assets upon divorce or civil partnership breakdown.
Why enter into a ‘pre-nup’?
- To protect and preserve all your worldly goods;
- To help you avoid potentially costly legal fees if your marriage or civil partnership breaks down (we know, it’s probably not in the forefront of your mind right now!);
- If you are a getting married/entering into a civil partnership for the first time, it is wise to consider a pre-nup to help reduce the impact on your respective family assets acquired from inheritance or family trusts;
- Couples entering their second marriage are especially advised to sign a pre-nup, for the sake of preserving arrangements and assets from a previous marriage, e.g. children or property;
- Finally, if there happens to be a disparity of assets between you and your partner then a pre-nup should be considered.
What should be considered before entering in to a pre-nuptial agreement?
- A pre-nup must be agreed on by both parties of their own free will and without undue pressure. No one wants to be forced into something they aren’t sure of, so make sure you do your research!
-You should both be fully aware of the implications of the contractual agreement you are about to enter;
- You must disclose all finances fully in a pre-nuptial agreement! Anything missed out will not form part of the agreement;
- The agreement must not be judged to be unfair to one party;
- If the divorce or civil partnership breakdown involves children, you will need to ensure that the agreement will not adversely affect the circumstances of the child or children;
- Last but not least, make sure that the agreement is completed no less than 28 days prior to the big day (the legal registry wedding). Preparation and planning is key in legal circumstances!
So before saying “I do” don’t forget to consider your long-term financial security.
Naim Qureshi is a highly experienced Family and Divorce lawyer at Blaser Mills LLP. Should you wish to discuss pre-nuptial agreements in detail, or any other legal issues relating to marriage, civil partnerships, family, divorce or civil partnership breakdown, please contact Naim at firstname.lastname@example.org or call 020 3814 2020.
Visit their website at: www.blasermills.co.uk