If you are considering entering into a marriage or a civil partnership, you may wish to consider obtaining advice with regards to a pre-nuptial agreement. This is an agreement stating what the parties to the marriage/partnership intend to happen to their money/property should the marriage/partnership breakdown.
There are many reasons why you may wish to enter into a pre-nuptial agreement such as to protect assets owned prior to the marriage/partnership or to protect assets for the purposes of inheritance planning if you have children from a previous relationship.
It is important to remember that pre-nuptial agreements are not strictly legally binding however, following a decision of the Supreme Court in 2010 (Redmacher v Granatino), the Court now recognise and give effect to the terms of an agreement that has been ‘freely entered into by each party with a full appreciation of its implications unless the circumstances would not be fair’.
In order to consider what would be a fair settlement for each party, it is good practice to obtain financial disclosure and take independent legal advice on the terms of a pre-nuptial agreement. It is also good practice to finalise the agreement in good time before the wedding/civil partnership ceremony (usually around 28 days) to ensure that both parties have had sufficient time to consider the terms and take advice.
If you are planning a wedding or entering into a civil partnership and would like further advice around pre-nuptial agreements, please contact us to arrange your free initial telephone appointment with our Private Family Law experts who can provide you with tailored advice to ensure your assets are protected!
