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A Pre-Nuptial agreement, often known as a “pre-nup” is a written agreement entered into by spouses-to-be before they marry or form a civil partnership. It sets out how the parties wish their assets to be divided should the marriage or civil partnership break down.
Although prenuptial agreements are not strictly legally binding in the UK, in the landmark case of Radmacher v Granatino (2010) the Supreme Court ruled that the Courts must now give appropriate weight to prenuptial agreements.
In most cases, the Agreement is likely to be upheld by a Judge on divorce or dissolution of a civil partnership, unless it would be unfair and unrealistic to do so and provided both parties take the following steps:-
1. Seek independent legal advice from a Solicitor in relation to the Agreement.
2. Produce and exchange full and frank financial disclosure of their assets.
3. Enter into the Agreement freely (without any duress or pressure), ensure it is signed in the presence of respective Solicitors and at least one month (ideally a longer period) prior to the wedding.
4. Confirm they understand the nature and effect of the Agreement and intend to be bound by its terms.
Parties wishing to protect their assets with a Pre-Nuptial Agreement must ensure they seek independent legal advice well in advance of their wedding day and ideally six months before the date. If you are getting married this year then now is the time to get in touch to ensure your Solicitor has plenty of time to prepare the relevant documents and ensure the necessary steps are taken.