Pre-nuptial agreements
If you are planning to marry or enter into a civil partnership, you may want to consider a pre-nuptial agreement. Many more couples are now doing this. We can give you advice about its effect so that you can decide if it is right for you.
A pre-nuptial agreement sets out what you and your future spouse or civil partner agree should happen in relation to your finances if your relationship breaks down and you separate.
You should know at the outset that although they are now much more common, pre-nuptial agreements are not yet legally binding. However, the courts do take them into consideration, providing that there have been no significant events such as the birth of children of the family or serious illness, and they meet the following criteria:
- Each of you has had independent legal advice.
- Both of you have made full and frank disclosure of your financial position to each other.
- There has been no pressure brought to bear on either of you to enter into the pre-nuptial agreement. Therefore generally you need to enter into the agreement at least three weeks before your marriage or civil partnership.
In the event of your separation, the court must consider all the circumstances of the case and decide what is a fair outcome. So although it is up to the court’s discretion to take the agreement into account, our experience shows that pre-nuptial agreements are becoming more relevant to the decisions made. At least a pre-nuptial agreement acts as a starting point, particularly if the circumstances haven’t changed dramatically, or if the marriage is short
If you would like to discuss this further, please contact Caroline Falkus or Kate Lovegrove or Simon Lim.
