Pre–marital agreements, sometimes known as Prenups, are becoming more popular in this country even though they can seem to be un-romantic. However, many people enter into such agreements as a realistic and positive step. Pre-marital agreements can provide clarity and certainty for the future for a couple about to enter into a life long commitment.
There are many reasons why a pre–marital agreement may be a good idea for you:
- To predict the outcome of any divorce settlement before you marry
- To save on costs and acrimony that sometimes result in divorce proceedings
- To prevent speculative claims following a short marriage
- To protect family assets which are intended to pass through generations
- To protect those marrying later in life or for a second time, who may not have children
- To limit the claims of a second spouse, and so protect the needs of children from previous marriages
Pre-marital agreements are not enforceable by the Courts however the Courts seem to be attaching more and more weight to them and it is only a matter of time before they become legally enforceable. At present, the Court will consider the factors that affect the importance of such agreements, including whether the agreement was made abroad, the length of the marriage, financial contributions made by each party, the provision made in the agreement for the support of the wife and any child, whether financial information was shared honestly when the agreement was signed and the parties’ intentions at the time.
If you would like to discuss your requirements in more detail please contact us on 01483 408780 or e-mail info@setfords.co.uk
