Pre-Nuptial & Post-Nuptial Agreements
In recent times, pre-nuptial agreements have become more commonplace, especially in circumstances where significant property or assets are involved and even more so following the landmark decision in the case of Radmacher v Granatino in October 2010, which gave “decisive” weight to pre-nuptial agreements.
If you and your partner enter into a pre- or post-nuptial agreement, you can determine in advance how your assets would be shared should you separate. Making those decisions now will reduce the financial and emotional trauma of divorce - should it ever happen - enabling you both to move on and, importantly, ensure your children are properly provided for.
This is an important issue for business owners, too, and any business owner contemplating marriage should consider a pre-nuptial agreement to reduce the risks to their business should the marriage end in divorce. The same should apply to business partners or fellow shareholders, if the sale or transfer of their interest could affect you.
Pre- and post-nuptial agreements allow couples to structure terms that fit their individual situation, instead of submitting themselves to decisions by the courts if they divorce. Our team includes specialists who can advise on and draft pre-nuptial, post-nuptial and separation agreements to protect your assets in the event of relationship breakdown.
While it is true that pre-nuptial agreements do not remove the overall jurisdiction of the court, in February 2014 the Law Commission recommended that pre-nuptial agreements should be legally binding in divorce settlements once the needs of the separating couple and any children have been taken into account.
Rulings in a number of key cases have also reinforced the standing of such agreements in UK law, adding to their importance in situations where relationships have broken down.