Post by Savita Sharma
We are now well into the traditional wedding season, where there are newlyweds who discussed the possibility of a pre-nuptial agreement but for a multiple of reasons did not have their intentions formalised before they married. This does not mean that there is nothing further that can be done, if the intention remains or, if they have decided they would prefer financial certainty if the marriage were to break down.
While prenuptial agreements or “pre nups” are written agreements entered by a couple prior to marriage or civil partnership, couples can enter into a post nuptial agreement after the marriage which serves the same purpose. Post Nuptial agreements can also be used during the marriage if circumstances change significantly or if an unforeseen event(s) takes place, which was not catered for in the pre-nuptial agreements.
A properly negotiated and executed post nuptial agreement where all the required conditions have been met, is likely to be upheld by the English Court as binding. While pre and post nuptial are not automatically legally binding in the English Courts these agreements can be binding in other parts of the UK, for example in Scotland. In Scotland, pre and post nuptial agreements are legally binding where the agreement is fair, voluntary and properly executed with full financial disclosure. In some cases, an Intra UK pre-nuptial or post nuptial agreement may be suitable for a couple or mirror agreements if that suits the couple’s circumstances where there are international assets.
Pre or post nuptial agreement are advisable for many reasons but mainly where one or both couples have substantial pre-marital property, investments, income, businesses or professional practices in the UK or other jurisdictions which require careful consideration and protection. With more people marrying later in life and with second or third marriages on the uptake, these types of agreements can be an effective way to protect assets, property and inheritances for children.
If you are contemplating pre or post nuptial agreement, seeking advice from a specialist family lawyer is the best way to ensure you receive clear, accurate and practical guidance before taking any steps. It is important to recognise that for these types of agreements to be upheld as binding, there are certain requirement which must be met.
Our matrimonial team will be able to provide advice tailored to your specific circumstances, helping you make informed decisions about the future with confidence and clarity. Please contact our specialist family lawyers on 020 7935 3522.