Should You Consider a Prenup for Your Wedding?

Wedding season will soon be in full swing, with couples busy planning every detail of their big day. But amidst the excitement, there’s a growing trend to include discussions about prenuptial agreements on the wedding planning checklist. Especially for second marriages, couples with business interests, or those receiving financial help from family, a prenup is becoming a topic worth considering.

So, what exactly is a prenuptial agreement?

It’s like an insurance policy for your assets in case the marriage doesn’t work out. It allows couples to decide beforehand how they’ll divide their property and assets if they ever separate. But it’s not something to rush into at the last minute; careful planning is crucial.

Prenups offer peace of mind as couples start their married life together, especially if there are assets that would be difficult to split equally. They’re beneficial if you want to ensure children from a previous relationship are taken care of, protect business assets or inherited wealth, or avoid being held responsible for your partner’s debts.

Since the Supreme Court’s landmark decision in Radmacher v Granatino, prenuptial agreements can now be given significant weight under UK law and will be enforceable provided certain conditions are met. Courts can still disregard them if they are felt to be unfair at the time the Court consider the couples circumstances – for example, if the children of a marriage are likely to suffer if the terms of the prenuptial agreement are upheld. In deciding what is fair, the Court will apply the three-stage test set out in Radmacher.

Before signing anything, it’s essential to consult a specialist family lawyer. The will ensure all the legalities of a prenuptial agreement are observed, such as both parties obtaining separate legal advice, understanding the terms of the agreement and their implications, ensuring the agreement is entered into without duress and making full disclosures of all assets. Plus, the agreement should be signed at least 21 days before the wedding.

As for what the prenup covers, it’s up to the couple. It can include decisions about property, bank accounts, debts, family businesses, child arrangements, inherited wealth, pets, and personal belongings bought together.

If you need guidance on drafting a prenup or any other family law matters, feel free to reach out to Rita Rathod at r.rathod@moss-solicitors.co.uk, or call the Family team on 01509 217770 for a free 30 minute appointment.