Prenuptial Agreements
Essentially, a Prenuptial Agreement (or pre nup) formalises your financial arrangements prior to you getting married or entering a Civil Partnership. The agreement details exactly what happen should the relationship break down. Now, it’s probably not the most romantic thing to do, but more and more people are going down this route, protecting themselves should the unthinkable happen.
Although not legally binding, provided Prenuptial Agreements are entered into properly, they can be highly persuasive to the Court should the marriage breakdown. Therefore, it is important that you get it right. Our Prenuptial Agreement solicitors are here to offer you specialist guidance and assistance.
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Why is a prenuptial agreement important?
Because prenuptial agreements identify how you and your future spouse or civil partner should handle the financial matters if the relationship were to break down, the prenup can provide a much clearer vision of the future. They also help to minimise disputes should the relationship end.
It’s vitally important though, that if you and your partner are considering having a prenup written, that you follow the guidance below:
Both parties should make full financial disclosure up front. An agreement like this simply won’t work if one party is hiding assets and not including them in the agreement. By assets, we mean property, investments, pensions, or money. In some situations, it may also be prudent to consider future inheritances too.
Both parties should take independent legal advice.
It’s important that the agreement is something that you both want, and neither party has forced the other into it.
And the agreement really needs to be completed well in advance of the marriage, or civil partnership.
Do you need a prenuptial agreement?
We absolutely know that deciding to have a prenuptial agreement written may not be the easiest task to do before tying the knot, but for some couples, it's certainly a consideration worth your time. Their biggest reason for putting one in place, is that they can avert considerable stress, hardship, and legal expenses in case of a separation.
Our specialist family lawyers are skilled in facilitating and crafting agreements that satisfy both parties' needs, and the governing legal norms. We work closely with you throughout the process, ensuring that we understand your position, your worries and concerns, and the reasoning behind the agreement. We’re then able to tailor an agreement with the objective of protecting the security of your assets, should a breakup or divorce occur.
call Speak to one of our Family Solicitors on 01752 827030
What can be included in a prenuptial agreement?
If you’re going through a divorce or separation, you should really need to speak with a specialist lawyer as there are a number of legal steps that need to be taken in a specific order. Securing divorce solicitors early on will also help you to take property, finance and the welfare of children into proper consideration.
Divorce can be complicated, but it doesn’t need to be destructive. Here at Nash & Co Solicitors, our divorce lawyers subscribe to the Resolution Code of Conduct. This means we encourage open negotiation and agreement, taking an approach that reduces rather than heightens tensions. In turn, this paves the way for an early resolution of difficult issues, minimising costs and ill-feeling.
What happens in the event of children?
Prenups must always protect the interests of any children involved. They often contain provisions for a review if children enter the picture, enabling the necessary adjustments to be made for their welfare.
Should your prenuptial agreement require replacement by a new one, this is typically called a post-nuptial agreement or 'post-nup'.
In divorce cases, the court's foremost concern is the children. Any agreement deemed detrimental to their well-being will likely be considered unfair. It's important to remember that you can't waive your duty to financially support a child.
Is a prenuptial agreement legally binding?
While prenuptial agreements aren't legally binding during a divorce or dissolution of a civil partnership, a court would generally uphold the agreement unless it leads to an unjust outcome. Unlike some other countries where prenuptial agreements are typically binding, in the UK, pre-marriage agreements about divorce or dissolution are not wholly enforceable.
To increase the likelihood of the court considering the agreement fair if called upon, both individuals must transparently reveal their financial standing and obtain independent legal counsel regarding the agreement and its potential effects. The agreement can be forged through mediation, collaborative law, or the traditional route of solicitors representing each party in negotiations. Our dedicated family lawyers will steer you through the process that's most suitable for your unique situation.
How a prenuptial agreement can protect your business
An effective way to protect your business in case of a divorce is to have a solid prenuptial or postnuptial agreement in place. This agreement should clearly outline the distribution of assets, making distinct divisions between personal and business belongings.
While prenuptial and postnuptial agreements do not carry legal enforceability in the courts, if prepared correctly, they have a considerable influence in the court's decision-making process regarding financial settlements during a divorce. These agreements can have a profound impact on the court's judgments, as long as the court is assured that both parties willingly entered the agreement in a fair manner, disclosed their financial situation in its entirety, and received the appropriate legal guidance.
Frequently asked questions
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No, we tend to steer clear of free half-hour initial appointments. By the time we have taken your details and a little more, the appointment would be over. You would walk out of our office without anything but the most basic advice. Chances are, it wouldn’t even be specific to your case.
We believe that we can only really give you specific advice and information if we have longer with you. Firms that offer a free half-hour appointment are often using it to hook new clients. Their second longer appointment, charged at full price, will need to be paid before they give you any meaningful advice.
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We understand that knowing what your costs are going to be is an important factor for you. You want to know what you’re going to get charged. And we want to be transparent with you. So we offer fixed fees for divorce / civil partnership dissolution.
We can also agree on a fixed fee for the preparation of a Separation Agreement, Financial Consent Order or Pre-Marital Agreement once we know what the issues to be covered are. With other matters, fixed fees are a lot harder to agree. This is particularly the situation with financial negotiations or disputes about children. We will however breakdown your likely costs down into stages. And we’ll tell you how much each individual stage is likely to cost before you embark on it. We’ll send you regular bills and update estimates where appropriate. This ensures that you have the best information available to help you understand and budget for your costs.
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There have been significant changes to the availability of legal aid for family matters, however, it can still be available when dealing with some aspect of family law, if you can prove your status as a victim of domestic violence or if Social Services have concerns about the safety of your children.
In order to prove your eligibility, there are a number of standard letters provided by the Legal Aid Agency which can assist you. Please click the link below to see what evidence will be accepted by the Legal Aid Agency. You cannot apply for legal aid without an ‘evidence letter’ if you are seeking assistance with divorce or children matters. Should you be seeking legal aid in relation to protection from domestic violence an ‘evidence letter’ will not be necessary.
Useful links
As well as the above evidence, you will need to be assessed as financially eligible for legal aid. Please use the online eligibility calculator to give you an indication as to whether you may be financially eligible. This will assist you in knowing whether legal aid may be an option.
https://civil-eligibility-calculator.justice.gov.uk/
Once you have obtained one of the standard ‘evidence letters’ from a professional, and have checked your financial eligibility, please give us a call to discuss making an appointment.
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If intending to issue an application to Court for an Order relating to children or an Order relating to matrimonial finances there is an expectation that you will have attempted mediation before your application can be issued at Court. There are limited exceptions where attendance at mediation is not necessary, however in most cases it will be necessary to attend at least a first mediation meeting, known as a Mediation Information and Assessment Meeting (MIAM).
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As a rule of thumb a divorce can take between 4 and 6 months from the date that the petition is lodged with the Court but it very much depends upon the complexity of the issues and how much co-operation there is between the parties.
We do work towards bringing about a conclusion as soon as possible for our clients as we recognise that it is an incredibly difficult time for them. However, each case will turn on its individual facts and it is difficult to know how long a divorce will take before the particular circumstances of the case are known. We recommend that anyone considering divorce makes an appointment with one of our specialist solicitors to come to the office to discuss matters where a time estimate can then be provided.
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It is not always the position that family home will have to be sold following separation but this will depend upon the financial circumstances of the parties.
It is very uncommon for both parties to remain living in the same property following separation and so, it would seem fairly inevitable that one of the parties will have to move from the property but this does not necessarily mean that the property will have to be sold.
In cases involving children, as long as it is financially possible, every effort is made to ensure that children do remain in their home to provide stability and security for them at what is, for the whole family, a very difficult time.
We recommend that anyone concerned about what would happen to their property following separation makes an appointment to come in and meet with one of our specialist solicitors for further detailed advice.
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