Prenuptial Agreements
Bortoft Bell Solicitors in London boasts a wealth of experience and expertise in creating prenuptial agreements for over 30 years, working predominantly for high net worth individuals. Couples intending to get married invariably hope that their relationships will endure for the rest of their lives. However, knowing that a prenuptial agreement has been reached at the outset of the marriage as to how their finances will be divided in the event of a separation, is a source of comfort for many individuals.
Prenuptial agreements are common in a range of circumstances, such as:
a. where one or both parties have, or may inherit, family money;
b. where one or both parties have children from another relationship and they are looking to protect the children’s future inheritances; and
c. where assets have been built up prior to the marriage.
Prenuptial agreement solicitors London
We are specialist prenuptial agreement lawyers in London able to prepare bespoke legally binding documents tailored to your precise needs. It is important that both parties obtain independent legal advice on the terms of a prenuptial agreement and we often also advise clients on prenuptial agreements drafted by their partner’s lawyers. We offer all of our clients an initial consultation, without charge, in respect to the preparation of, or advice upon, a prenuptial agreement. Please contact us to arrange your consultation.
Is a prenuptial agreement binding?
In short, a prenuptial agreement is binding provided that it is “fair”.
A “prenup” is a formal agreement between individuals who are planning to marry, or enter a civil partnership, the intention of which is to regulate how they intend to divide their assets in the event of a divorce/dissolution.
How do you enter a prenuptial agreement?
In order that the prenuptial agreement has the best chance of being upheld, and therefore binding upon the parties, it is important to ensure that:
1. Both parties receive independent legal advice upon the terms of the prenuptial agreement before it is entered into;
2. The prenuptial agreement is produced and agreed in good time before the wedding;
3. There is no improper pressure applied by one party;
4. Sufficient, and accurate, financial information is produced by both parties, including an overview of their respective financial positions, in order to allow them to assess whether the proposed terms of the prenuptial agreement are fair.
Usually a prenuptial agreement is drafted but one party’s solicitor, which will then be sent to the other party’s lawyers for consideration. There may be some negotiation on the prenup’s terms.
Once the prenup is agreed, both parties and their solicitors can sign the document, when comes into effect upon the marriage of the parties.
What makes a prenuptial agreement fair?
What is fair will vary from case to case depending on the facts. What is fair in a short childless marriage might not be fair in a long marriage, or one which has produced children. Case law has established that where the terms of a prenuptial agreement leave one party in a position of “real need” it will not be fair.
In some circumstances it might be sensible to enter a post-nuptial agreement after the marriage, which mirrors the terms of the prenuptial agreement, particularly where it is signed shortly before the ceremony.
Can I challenge a prenuptial agreement?
If upon divorce, one party feels that the prenuptial agreement is unfair, they can challenge it. If a judge agrees that the agreement is unfair, it will not necessarily mean that it is disregarded completely. It might be that the court makes a more generous award than provided in the prenuptial agreement, but less than it would have awarded had there been no agreement.
If you would like to discuss how our prenuptial agreement lawyers in London can assist you with legal advice please call us on 020 3405 0060 or send us a message to arrange an initial free consultation.