Pre- and Post-nuptial Agreements

Prenuptial or Premarital Agreements

Prenuptial agreements are becoming increasingly popular in this country as more and more couples are alarmed by the potential cost, both financial and emotional, of getting divorce. Couples may choose to set out in a document what will happen in the event that their marriage or civil partnership breaks down.

The most common reasons for having a prenuptial agreement are:

  • Second marriages: when one or more parties want to preserve some element of their estate for children from a previous marriage;

  • Protection of inherited weath or where there is a disparity in wealth;

  • Small companies where there are shareholders agreements in place;

  • Where there may be a debate as to which jurisdiction any proceedings may occur;

Pre nuptial agreements are not recognized in this country by statute. This has led many to question their worth. However, a number of influential judges have been prepared to look carefully at the terms of prenuptial agreements when making their decisions about the division of assets on divorce. The recent decisions of Crossley (2011), Radmacher (2010) and MacLeod (2008) indicate circumstances in which prenuptial agreements will be upheld. Crucially, they highlight the importance of obtaining legal advice to prepare a document that accurately reflects the parties wishes whilst at the same time producing an overall fair division.

Perhaps surprisingly, many couples find the process of negotiating the terms of an agreement to be a positive one, even if they were initially wary of raising the subject with their partner. Negotiating in the context of a forthcoming marriage or civil partnership is often easier than negotiating during the process of separation and relationship break down. Importantly, a couples’ view of what is "fair" prior to their marriage or civil partnership can be influential in financial settlement discussions if the relationship does break down.

Postnuptial Agreements

Many couples do not realise that it is possible to enter into an agreement after they have married or entered into a civil partnership. Postnuptial or postmarital agreements are often used when parties wish to confirm and/or amend a premarital agreement to reflect a change in their circumstances and/or after a passage of time. These agreements are increasingly found to carry weight when matrimonial assets are divided provided certain criteria can be met.

Rayden Solicitors

We can provide straightforward advice that will help you to identify whether an agreement is appropriate for you and what terms should be included in that agreement. There are often time limits for the preparation and completion of premarital agreements and we are experienced in drafting the documents and concluding them in a prompt and straightforward manner.