For those intending to marry or re-marry, you may wish to try to protect your own individual assets in the event of later separation or divorce. An antenuptial agreement (often referred to as a prenuptial agreement) may protect or mitigate you from financial loss in the event of a relationship break down.
An antenuptial agreement is an agreement between two people contemplated and completed prior to their marriage which specifies the division of their assets in the event of a divorce.
We can advise you on how such an agreement may be relevant and how effective it is likely to be should a breakdown of the later marriage occur.
The Judge in any later divorce financial dispute has wide ranging powers and any pre marriage agreement will be taken into account when considering and reaching a fair decision.
In order for antenuptial agreement to have any standing in a subsequent divorce, it is important that the following guidelines are adhered to: -
- Each party must have independent legal advice.
- Full financial disclosure should take place – this means that each solicitor should be given the complete picture in respect of your assets, income and debts and this information shall subsequently be exchanged between solicitors.
- Antenuptial agreements should preferably be completed three months before the wedding.
- No undue influence should be exerted. If one party is pressured into signing then this is a relevant factor which will be taken into account later if the marriage fails.
The antenuptial agreement is designed to include an analysis of each parties assets and income and how they are owned and how future ownership is intended.
If you have any queries regarding antenuptial (prenuptial) agreements and wish to discuss the matter further, please contact us.