Prenuptial Agreements – Just for Celebrities or a Sensible Choice?
Prenuptial agreements, often referred to as “prenups”, are frequently associated with celebrities and high-profile individuals. In reality, they are becoming an increasingly common and practical option for many couples planning marriage or a civil partnership.
Rita Rathod, Head of the Family Department, explains that prenups are no longer just about wealth or fame. “Many couples now see them as a sensible way to plan ahead, particularly where one or both parties have assets they wish to protect.”
Why consider a prenup?
Prenuptial agreements can be particularly useful for individuals who want to protect pre-existing assets such as property, savings, pensions, inheritances, or family businesses. They are also common where one or both parties have been married before and want clarity and certainty should the relationship come to an end.
Far from being unromantic, a prenup can help manage expectations and reduce potential conflict in the future. It allows couples to have open discussions about finances at an early stage and ensures that both parties are treated fairly if circumstances change.
Are prenups legally effective?
When properly prepared, prenuptial agreements are increasingly recognised by the courts. To maximise their effectiveness, they must be fair, entered into freely, supported by full financial disclosure, and accompanied by independent legal advice for both parties. Any children must also be adequately provided for.
Timing is also crucial.
Prenups should ideally be signed at least 28 days before the wedding to avoid the risk of them being challenged later, but preferably it should be at least 3 months before the wedding date, to allow the parties adequate time to negotiate following the exchange of financial disclosure and to seek legal advice on the implications of entering into the agreement, so that there is no element of pressure on them, leading up to the wedding date.
Although pre-nuptial agreements are not currently legally binding, they are less likely to be challenged as long as they provide for their needs and for the needs of any children, should the marriage break down.
Planning responsibly for the future
The cost of a prenuptial agreement is typically modest when compared with the potential expense and emotional strain of divorce proceedings. With expert legal advice, couples can ensure their agreement is clear, balanced and legally robust.
Speak to us
If you are considering a prenuptial agreement or would like advice tailored to your circumstances, our Family Law team would be happy to help. Contact us today to arrange a confidential consultation with Rita Rathod or a member of the Family Department and take the first step towards planning your future with confidence.
