Getting married is usually a time of love, romance and dreams. But it's also a time for properly assessing the material impact that a marriage can have on the individual. Prenuptial agreements are becoming an increasingly popular way to do this so as to protect personal assets.
"………the magnetic importance of the prenuptial agreement………." (Court of Appeal, Crossley case, 2008)
Prenuptial agreements have been around for years and are well utilised in both the USA and the rest of the EU. The UK is swiftly coming into line with those countries where a pre-nup is the norm and as such, lawyers are seeing a rapid increase in couples seeking to have one drawn up prior to marriage. Oratto member lawyers have the necessary skill and experience to help you produce a well-drafted, legally recognised prenuptial agreements.
The frequently asked questions?
What exactly is a prenuptial agreement?
It's simply a formal, written agreement entered into by a couple before marriage which sets out what will happen to any assets in the event of a divorce.
Can anyone have one?
Yes. However they are most commonly used where one party is significantly wealthier than the other.
Why do I need a prenuptial agreement?
No-one needs one. But they began as a way to protect wealth, and now they are becoming increasingly used for a variety of reasons. These include:
- Reassurance for family. Particularly in the case of a second marriage. The courts are littered with Wills being contested on various grounds and a pre-nup aims to stop that from happening.
- If there are any children to be provided for
- If you wish to protect specific assets to stop them from being sold to fund a divorce
- If you wish to exclude inherited wealth
Are there any situations where they are likely to be varied?
The court does have complete discretion when looking to apply the terms of prenuptial agreements, but they are increasingly likely to apply some, if not all, of the provisions if certain conditions have been met, such as each party having sought independent legal advice.
In addition, the Inheritance (Provision for Family and Dependants) Act 1975 provides the court with the power to adjust the terms of a pre-nup in the event of the death of a spouse. It can be invoked when one spouse dies without making sufficient provision for children or the surviving spouse.
How can Oratto help me with a prenuptial agreement
Oratto has a number of member solicitors who will be able to fully advise you on the details of your individual situation. Historically, pre-nups were seen as perhaps demonstrating a defeatist attitude; but actually they are a sensible step towards creating a solid base for marriage.
Let Oratto connect you instantly with a solicitor experienced in creating prenuptial agreements. It's very important to seek specialist advice to ensure not only legal validity in the UK, but also so that the document accurately reflects your expectations and interests in the event of a divorce.
Call us today, have an online chat or fill in an Oratto Match form so that we can call you back at a time to suit you.
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