Pre and Post Nuptial Agreements
By Lucy Phipps
As the number of divorces has grown, so has the publicity around pre and post nuptial agreements but just how much protection do they give you?
A prenup is signed prior to exchanging vows and a post-nup can come any time after, for example if there has been a shift in one party´s assets. Of course every couple hopes to share their wealth in a long and happy marriage with the other but in reality divorce has become a statistical common place and being properly prepared can save acrimony and money in the long run. You do not need to be rich and famous to have a prenup and it should simply be seen as prudent planning rather than the end of romance (you don´t take out home insurance expecting your house to fall down).
The case of a German heiress, Ms Radmacher, in 2010 gave us a landmark ruling in which it was held that prenuptial agreements could be given decisive weight when reaching financial settlements on divorce; but just how much regard is given to them?
The law in England and Wales states that the Court must consider all the circumstances individual to a case and a pre/post-nuptial agreement is only one of those circumstances. However, a properly entered into agreement is far more likely to be given weight that a hastily signed note on the back of a wedding invitation. It is therefore important to ensure that there has been a full disclosure of each party´s financial circumstances, the parties are freely entering into the agreement and most importantly that each has been independently legally advised.
Newtons have a dedicated family law team who will be pleased to discuss your options with you and ensure that you are in the best possible position to enjoy what should be the happiest days of your life.
For more information contact Samantha Haslam and Lucy Phipps on 01423 789 058 or sam@newtons.co.uk or lucy@newtons.co.uk
This article is for general information only. No responsibility can be accepted by Newtons Solicitors for any loss suffered by anyone acting or refraining from action as a result of anything on this website. We recommend you take independent legal advice in relation to any particular personal circumstances.
By Lucy Phipps
As the number of divorces has grown, so has the publicity around pre and post nuptial agreements but just how much protection do they give you?
A prenup is signed prior to exchanging vows and a post-nup can come any time after, for example if there has been a shift in one party´s assets. Of course every couple hopes to share their wealth in a long and happy marriage with the other but in reality divorce has become a statistical common place and being properly prepared can save acrimony and money in the long run. You do not need to be rich and famous to have a prenup and it should simply be seen as prudent planning rather than the end of romance (you don´t take out home insurance expecting your house to fall down).
The case of a German heiress, Ms Radmacher, in 2010 gave us a landmark ruling in which it was held that prenuptial agreements could be given decisive weight when reaching financial settlements on divorce; but just how much regard is given to them?
The law in England and Wales states that the Court must consider all the circumstances individual to a case and a pre/post-nuptial agreement is only one of those circumstances. However, a properly entered into agreement is far more likely to be given weight that a hastily signed note on the back of a wedding invitation. It is therefore important to ensure that there has been a full disclosure of each party´s financial circumstances, the parties are freely entering into the agreement and most importantly that each has been independently legally advised.
Newtons have a dedicated family law team who will be pleased to discuss your options with you and ensure that you are in the best possible position to enjoy what should be the happiest days of your life.
For more information contact Samantha Haslam and Lucy Phipps on 01423 789 058 or sam@newtons.co.uk or lucy@newtons.co.uk
This article is for general information only. No responsibility can be accepted by Newtons Solicitors for any loss suffered by anyone acting or refraining from action as a result of anything on this website. We recommend you take independent legal advice in relation to any particular personal circumstances.