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Pre and post nuptial agreements
Pre-nuptial agreements
An increasing number of couples are now choosing to prepare a pre-nuptial agreement, before they get married, in order to safe-guard their assets and plan for the future should their relationship run into difficulties.
With around half of all marriages ending in divorce, it may be sensible to do all that you can to ensure that your hard-earned assets are protected.
Post nuptial agreement
Following a pre-nuptial agreement, it is often wise to enter into, by way of an update, a post-nuptial agreement. The Agreement needs to be reviewed on a regular basis to deal with changes in circumstances and lifestyle e.g. children, changes in employment, purchase of property.
As long as there is full disclosure by both parties and as long as both parties have had the opportunity to seek independent advice, there is no reason why such an Agreement should not be enforceable should the relationship break down, subject to the caveats mentioned above in relation to prenuptial agreements.
Michelmores pre and post nuptial agreements team
(Michelmores are not responsible for third party website contents).
Are prenuptial agreements now enforceable?
No. On a divorce a financial application can still be made to the Court. The weight which a Court is now required to give to a prenuptial agreement, however, is much greater than it used to be.
Can a prenuptial agreement ensure that my husband/wife gets nothing if we divorce?
No. The process surrounding the making of the agreement and the outcome of the agreement must still be basically, fair and reasonable. It is very unlikely that an apparent intention to leave one party destitute will be upheld. If, however, both parties are starting from a position of reasonable independence of means an agreement which seeks primarily to give protection to each would be reasonable. Unforeseen events and significant financial misfortune then befalling one party through no fault of their own could nevertheless be relevant subsequently.
Is there any point in a prenuptial agreement if it is not enforceable?
Yes. A properly drawn agreement with proper disclosure having been given and legal advice sought by both parties will be given significant weight. Even if, because of changed circumstances and/or unforeseen events some aspects are altered by the Court on a divorce, it may still operate to limit whatever award might otherwise have been made.
