Securing your future before you marry
Significant percentages of approximately 50% of marriages now end in divorce in the United Kingdom. Unsurprisingly then, couples entering a marriage are considering entering into Pre-Nuptial Agreements in order to try to protect their assets in the event of a divorce.
What is a Pre-Nuptial?
A Pre-Nuptial is a document in which a couple set out their rights and arrangements in relation to any property, debts or income whether purchased jointly or acquired by one party alone.
What is a Post-Nuptial?
A Post-Nuptial is entered into for the same reasons but after marriage, usually on a life changing event such as a windfall or inheritance in order to try to protect those assets upon a divorce.
Is it binding?
This is a question often mooted by family lawyers in the courts. There are a number of legal requirements that must be present in a Pre or Post-Nuptial Agreement in order for the agreement to be capable of being upheld. It is, however still open to the courts to decide whether to uphold all or part of an agreement and it is not currently possible to oust the court's jurisdiction in this regard.
How much do they cost?
This depends upon the complexity of your financial affairs and whether you and your (intended) spouse are in agreement as to the terms of the document. 'Typical' Agreements range between £1,000 to £5,000 plus VAT.