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Marriage comes with not only emotional attachments, but also financial consequences. It might seem unromantic to enter into a pre-nuptial agreement, however, according to the Office for National Statistics 42% of marriages in 2019 ended in divorce. It is therefore important for you to consider how a divorce will impact your finances.
What is a pre-nuptial agreement?
It is an agreement entered into by a couple prior to marriage which provides how their finances are to be divided in the event of divorce.
Why should I sign a pre-nuptial agreement?
A pre-nuptial agreement stops or limits financial claims in any subsequent divorce proceedings provided that it is upheld by the court.
If a couple separates after marriage without an agreement, your spouse can make an application for spousal maintenance, seek a 50% share of all the marital assets including your business and a share of your pension. If the court upholds the agreement, your spouse’s claims will be limited to the amount of financial provision recorded in the pre-nuptial agreement.
Who should enter into a pre-nuptial agreement?
Anyone planning to marry should consult us so that we can advise them on the benefits of a pre-nuptial agreement.
You should consider a pre-nuptial agreement if you or your partner:
What are the benefits of a pre-nuptial agreement?
What is essential for a pre-nuptial agreement?