1. What is a prenuptial agreement?
A pre-nuptial agreement is a formal agreement between two parties prior to their marriage setting out the ownership of their assets. It clearly sets out how their financial resources are to be divided on divorce.
2. Why get a prenuptial agreement?
A well drafted prenuptial agreement can set out exactly what is to be kept separate and what is to be shared. It can deal with all of your assets or address a selected few assets. There will be no confusion or disagreement in the future and you can both enter into the marriage feeling safe and secure knowing that if things do not work out, there is no uncertainty or potential conflict ahead.
3. Are prenuptial agreements legally binding?
Prenuptial agreements are not absolutely binding, however, following the important 2010 case of Radmacher v. Granatino, prenuptial agreements are afforded heavy weighting within the UK family court unless it can be seen as unfair. Therefore, the courts will uphold them in most circumstances.
4. Why might a prenuptial agreement be departed from?
There are several reasons why the court might decide to depart from a prenuptial agreement; these include factors such as duress, undue influence and lack of material disclosure. There may have also been a big change in the circumstances since the prenuptial agreement was made, such as the birth of children or a significant illness. However, with expert legal help and drafting your agreement should stand.
If you require any further information about a prenuptial agreement then please do not hesitate to contact the family team at Paul Robinson Solicitors. We are an approachable team of experts who will take the time to listen to your situation, identify your priorities and draft an agreement to achieve the outcome you seek.