Free Prenuptial agreements Advice
Pre-nuptial agreements are frequently referred to in the media, especially in America and with regards to celebrities. A pre-nuptial agreement or a pre-nup as it is more commonly referred to is a document which is drawn up before marriage which states the way in which assets, finances and other related matters should be protected or split up during a divorce.
There are various reasons for having a pre-nuptial agreement in place. This can be due to an imbalance of wealth in the couple, one member of the couple being prone to debt or even something as simple as one member of the couple owning a house which they do not want to lose in the case of a divorce.
Most people do not believe that pre-nuptial agreements have a legal basis in the UK and this traditionally was the case. Recent cases however have set precedent, the first being in 2003. Since then the enforcement and popularity of pre-nuptial agreements have quickly increased and help make divorces and the division of assets at the end a marriage simple and easy. Complex agreements or one party disputing the pre-nuptial agreement for a variety of reasons may lead to legal assistance or court proceedings to settle the dispute.
A pre-nuptial agreement can be as simple as stating that wealth, family heirlooms and possessions you owned before marriage remain yours after a divorce but can also be complicated which splits up a range of assets by percentage depending on the length of the marriage or grounds for divorce.
Married couples aren't the only people who can have a pre-nuptial agreement, civil partnerships are also eligible.
As pre-nuptial agreements are financially important in the case of divorce you should consider getting legal assistance when drawing up this legal document to ensure the wishes within the agreement have a legal basis. This will reduce potential disputes in the future and reduce the possibility of a court case. If your agreement includes factors which make the agreement unenforceable you may be required to go through dispute resolution, a lengthy court process to argue your case or even suffer huge financial losses you thought you were protected from.