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Does a Prenuptial Agreement Protect Future Assets?
The idea of entering into a prenuptial agreement may seem cynical or unromantic, however, this is far from the truth.
Taking the time to discuss and agree with your partner on what should happen to assets in the unfortunate event of divorce or separation can be invaluable. It can leave partners feeling at ease with a shared sense of honesty and security.
What is a prenuptial agreement?
A prenuptial agreement (or prenup) is a legal agreement which is entered into before marriage. This kind of agreement makes it possible to outline what would happen to you and your spouse’s assets in the unfortunate event of divorce or separation.
Prenuptial agreements are more often put in place when one partner has or is likely to acquire more assets than the other. For example, someone with a large inheritance, business owners or landowners. Putting this agreement in place formalises all arrangements to ensure long term security for each partner.
What is included in a prenuptial agreement?
A prenuptial agreement can protect a range of assets and can be tailored to include what is relevant to a couple, and usually include:
- Business interests
Our specialist family solicitors can assist you in drawing up a prenuptial agreement that is tailored to suit your needs.
Can a prenuptial agreement protect against future earnings?
If you want to protect any future earnings, it is possible to include a clause within your prenuptial agreement.
Are prenuptial agreements legally binding?
Prenuptial agreements are not legally binding in England and Wales. However, they are becoming more recognised by the Courts as a proof of a couple’s intentions should they wish to divorce.
If a couple who has entered into a prenuptial agreement and wish to divorce, the Court will consider:
- How the prenuptial agreement was entered into
- The timing of the agreement and the proximity to the marriage
- Whether or not the parties sought out independent legal advice before signing the agreement.
It is important to note that depending on the facts of a particular case, the Court may choose to divide a couple’s assets in manner that is different to what is stated in the prenuptial agreement.
Can a prenuptial agreement be changed after marriage?
Once you are married or you have signed your prenuptial agreement, it cannot be modified. If you wish to change the terms, a postnuptial agreement is a good way to do this. A postnuptial agreement is legally recognised the same way as a prenuptial agreement but is created after marriage.
How we can help
Our dedicated team have a high level of expertise in drafting both prenuptial and postnuptial agreements. We take the time to understand your needs and tailor our service to fit your requirements.
The level of help you would like from us is entirely up to you. For further information, please contact us.
Our Solicitors can provide expert advice across the country with a network of offices based in: Chesterfield, Derby, Mansfield and Nottingham.
How to get in contact
Our team are on hand to help you and can assist wherever you are based. Please call us on 0330 333 2613 for a no-obligation, initial discussion or email email@example.com and we will call or email you back.
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