Prenuptial agreements
Having a prenuptial agreement can give you and your partner clarity from the start, making the joining of your lives simpler.
Call 01284 701131 to book an appointment
Making sense of the prenuptial agreement
We appreciate that having a prenuptial agreement, otherwise known as a prenup, is not for everyone. But for some couples about to marry or enter a civil partnership, a prenuptial agreement provides peace of mind should their relationship sadly break down.
Why are prenups on the rise?
Prenuptial agreements are becoming increasingly popular as couples become more aware of both the financial and emotional cost of parting ways.
It may be that you have been married before and have children from a previous marriage. Or perhaps you have met your partner slightly later in life and one of you have financial assets you would like to protect.
The most common reasons for having a prenup drawn up are:
- Protection of inherited or family wealth or where there is a difference in wealth between a couple
- Where one or both parties want to preserve certain assets for their children from a previous relationship
- Where there are shareholders agreements in place at a private company
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Is a prenuptial agreement right for you and your partner?
In many cases, having a prenuptial agreement makes perfect sense and can be seen as part of the process of joining lives with the person you love.
Most of our clients who have entered into prenuptial agreements do so to gain:
Clarification
A prenup can prove helpful for couples looking for complete transparency on how their finances will work during their marriage.
Confidence
Since it allows a couple to formally agree on how their assets should be divided if their marriage or civil partnership breaks down.
Protection
To help safeguard inherited assets or pre-marital wealth from financial claims made by the other party during a divorce.
How legally binding are prenuptial agreements?
Prenuptial agreements are not recognised in England by statute. However, there have been many cases where judges have honoured the terms of prenuptial agreements when deciding how assets should be divided.
These cases have created a fairness test of sorts. Although there is no absolute certainty, cases have a greater chance of being upheld if:
- The agreement can be shown to have been freely entered into
- Both parties, at the time of signing, understood the implications of the agreement
- It is fair to hold the parties to the agreement at the time of the divorce
That’s why it’s important to obtain the right legal advice so that the agreement is clear, fair, and accurately reflects the wishes of both you and your partner.
How can Burnett Barker Solicitors help?
Our family law solicitors will help you decide whether a prenuptial agreement is right for you and what terms should be included.
Since prenups can be delicate in nature, we take a tactful and well-considered approach. This is so that both you and your partner feel satisfied with the agreement.
For help and legal advice, call Burnett Barker Solicitors on 01284 701131. You can also send us a message, or pop in and see us at 20 Whiting Street, Bury St Edmunds – we have free parking on site!
Other services you may be interested in...
As your family circumstances change, you may need advice on a range of other matters. It could be that you need us to help you buy or sell a home, or perhaps you need your Will re-written now that life is different. Please just ask if there is anything we can help you with.
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