Prenuptial Agreements
Protect Your Financial
Interests Before Marriage
Marriage is an important commitment, but it can also have significant financial consequences. A prenuptial agreement, commonly known as a “pre-nup”, can help couples set out their intentions about how their finances and assets should be dealt with if their marriage later ends.
At MYM Solicitors, we provide clear, tailored legal advice and assistance with prenuptial agreements, helping you understand your options and ensure your agreement properly reflects your circumstances and intentions.
What Is a Prenuptial Agreement?
A prenuptial agreement is an agreement made by a couple before they marry. It can set out how they intend their finances, property and other assets to be dealt with if they separate or divorce.
A pre-nup may address matters such as:
- Property and other assets owned before marriage
- Savings and investments
- Business interests
- Inheritances and family wealth
- Pensions and other financial interests
- How assets acquired during the marriage may be treated
- Financial arrangements in the event of separation or divorce
In England and Wales, prenuptial agreements are not automatically legally binding. However, the Supreme Court decision in Radmacher v Granatino established that courts should generally give effect to a nuptial agreement where it was freely entered into, both parties understood its implications and it would not be unfair to hold the parties to it. This means the way a pre-nup is prepared, negotiated and entered into can be highly important.
How MYM Solicitors Will Help
At MYM Solicitors, we understand that discussing financial arrangements before marriage can sometimes feel difficult. Our role is to provide clear legal advice and help you approach the process professionally and constructively.
Understanding Your Financial Position
We can help you identify the assets, property, income and financial interests that may need to be considered when preparing your agreement.
Advising on Your Options
We will explain how a prenuptial agreement may operate in your circumstances and discuss the issues that should be considered before you enter into one.
Preparing a Tailored Agreement
We can assist with preparing a carefully drafted agreement that reflects your circumstances, intentions and agreed financial arrangements.
Protecting Pre-Marital Assets
If you have built up property, savings, investments, a business or other assets before marriage, we can advise you on how these interests may be addressed within the agreement
Considering Future Financial Circumstances
A good pre-nup should not only consider your current financial position. We can help you consider potential future circumstances, including changes in assets, property ownership and family circumstances.
Reviewing Financial Disclosure
The parties should have a clear understanding of the financial circumstances relevant to the agreement. We can advise you on the information and disclosure that may be appropriate.
Independent Legal Advice
We can advise you on the importance of obtaining appropriate legal advice and ensuring that you understand the terms and potential implications of the agreement before signing.
Negotiating With Your Partner's Solicitor
Where your partner has separate legal representation, we can communicate with their solicitor and assist with negotiations to help work towards an agreement that properly reflects your respective positions
Reviewing an Existing Prenuptial Agreement
If you have already been presented with a pre-nup, we can review the document, explain its provisions and advise you on points that may require further consideration or negotiation.
Advice Following Changes in Circumstances
Your financial or family circumstances may change after a pre-nup has been signed. We can advise you about whether a review or further agreement, such as a post-nuptial agreement, may be appropriate.
Frequently Asked Questions
Not automatically. In England and Wales, pre-nuptial agreements do not currently have automatic statutory enforceability. However, courts may give significant weight to an agreement where it was entered into freely, with both parties understanding its implications, and where it would not be unfair to hold the parties to it.
A pre-nup can provide greater clarity about your financial intentions before marriage and may help reduce uncertainty and disagreement if the marriage later breaks down. It can be particularly relevant where one or both parties have substantial assets, property, business interests, inheritances or other financial considerations.
A pre-nup can deal with a wide range of financial matters, depending on the couple’s circumstances and intentions. This may include property, savings, investments, business interests, pensions, inheritances and other assets or financial arrangements. The agreement should be carefully tailored rather than relying on a generic template.
A pre-nup can set out the parties’ intentions regarding assets owned before the marriage. However, simply identifying an asset as “pre-marital” does not guarantee that it will automatically be excluded from consideration by a court. The overall circumstances and fairness of the agreement can be relevant.
It is generally sensible to address a pre-nup well before the wedding rather than leaving it until shortly beforehand.
The timing of the agreement can be important when considering whether both parties entered into it freely and had sufficient opportunity to understand and consider its terms. The Government is currently consulting on proposed reforms that include safeguards for qualifying nuptial agreements, including a proposed 28-day period before marriage or civil partnership. These are proposals rather than the current law, so the applicable position should be checked when preparing an agreement.
It is strongly advisable for each person to obtain independent legal advice. Independent advice can help demonstrate that both parties understood the agreement and its potential consequences and can help reduce concerns about one party being pressured into signing.
Financial disclosure can be an important part of preparing a properly informed agreement.Each person’s circumstances should be considered carefully, and appropriate financial information should be exchanged so that both parties understand the financial position relevant to the agreement
A pre-nup can address financial intentions, but arrangements concerning children are treated differently from financial arrangements between spouses. The welfare and needs of children are important considerations and cannot simply be predetermined by an agreement between parents.
Potentially. Couples can consider entering into a post-nuptial agreement after marriage where their circumstances or intentions change. It may also be appropriate to review an existing pre-nup following significant changes in circumstances. Legal advice should be obtained before making or changing an agreement
If the marriage ends, the court may consider the terms of the pre-nup when determining financial matters. However, the agreement does not automatically prevent the court from exercising its powers. The circumstances in which the agreement was made, whether it was entered into freely, whether both parties understood its implications and whether it would be fair to hold the parties to it can all be relevant
Potentially, but international marriages can involve additional legal considerations. If you or your partner are from another country, own assets overseas or intend to live outside England and Wales, it is important to consider whether the agreement may need to take account of another country’s laws. Specialist advice should be obtained where there are significant international elements.
Yes. If your partner or their solicitor has prepared a proposed agreement, we can review the document and advise you on its terms, potential implications and any issues that may require further negotiation.
Speak to MYM Solicitors
About Your Prenuptial Agreement
Speak to MYM Solicitors About Your Prenuptial Agreement
A prenuptial agreement can be an important part of planning your financial arrangements before marriage. Getting independent legal advice can help you understand the agreement and ensure your interests are properly considered. Contact MYM Solicitors today for professional Family Law advice tailored to your circumstances.
Why Choose MYM Solicitors?
- Tailored legal advice based on your circumstances
- Clear explanation of your rights and options
- Assistance with drafting and reviewing agreements
- Advice concerning assets, property and financial interests
- Support with negotiations where required
- Professional and confidential Family Law guidance
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Contact MYM Solicitors Today
Planning your marriage and considering a prenuptial agreement? Speak to our Family Law team to discuss your circumstances and find out how we may be able to assist.
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