By Ross Phillips, Partner at Goughs Solicitors
What is a prenup?
A Prenuptial Agreement (‘Prenup’) is a written marriage contract entered into by two people before marriage. A prenup usually details all the property each person owns (as well as debts) and specifies what each person’s rights will be after the marriage.
What is the purpose of a prenup?
A prenuptial agreement provides clarity and certainty around arrangements should a marriage breakdown, which in turn saves the uncertainty, time and stress of arguing about the finances at a later stage.
Your Prenup can include any assets you wish, such as property, savings, business assets and even future inheritance.
The benefits of having a prenup include:
- The protection of pre-marital assets.
- The protection of business assets.
- If you or your partner have debts.
- The protection of your children’s financial interests.
- The agreement of how finances will be managed throughout the marriage.
- An amicable separation or divorce.
Aren’t prenups just for rich people?
Pre-nuptial agreements are often associated as something for celebrities and wealthy individuals. However, prenuptial agreements aren’t just for wealthier individuals. Prenups are an affordable option for most couples and can provide peace of mind during your relationship as well as making life much easier if you do ever separate.
How do I get a prenup?
Contact a family solicitor. In order for a prenuptial agreement to be valid and binding, both parties must seek independent legal advice to ensure it is fair and lawful.
If you are considering a prenuptial agreement or you have signed a prenuptial agreement and would like advice, please contact a member of our Family Team. We’re always happy to help. At Goughs Solicitors, we offer a complimentary 30-minute consultation for all family law matters.
For more information, contact Ross at email hidden; JavaScript is required.
