What is a Prenup?

A prenuptial agreement aims to provide clarity and protection for both parties entering into a marriage. It can help avoid disputes and lengthy legal battles by setting clear terms for asset division and financial responsibilities.

• Asset Protection: Specifies how assets acquired before and during the marriage will be divided.
• Debt Allocation: Details responsibility for any debts incurred individually or jointly.
• Spousal Support: Sets terms for any alimony or maintenance payments.
• Inheritance Rights: Clarifies inheritance rights for children from previous relationships.
• Business Interests: Protects business assets and interests from being divided.

Prenuptial agreements offer several benefits, including:

• Providing financial security and peace of mind.
• Protecting family heirlooms and inheritances.
• Reducing conflicts and legal fees in case of divorce.
• Ensuring fair treatment for both parties.
• Clarifying financial expectations and responsibilities.

For a prenuptial agreement to be legally binding in the UK, it must meet certain requirements:

• Both parties must have obtained independent legal advice.
• The agreement must be entered into freely without any duress.
• Full financial disclosure must be made by both parties.
• The agreement should be fair and reasonable to both parties.
• The document must be signed at least 21 days before the wedding.

A prenuptial agreement might be particularly useful if:

• One or both parties have significant assets or debts.
• There are children from previous relationships.
• One party owns a business.
• There are substantial differences in income or wealth.
• One party expects to receive a large inheritance.