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Pre and Post-nuptial Agreements
A pre-nuptial agreement is a written contract entered into by two people before marriage. It sets out the assets of each party to the marriage and how their assets are to be divided in the event of a divorce or separation.
Pre-nuptial agreements are useful in the following situations:
- Where there is a substantial difference in your financial positions
- To protect wealth accrued prior to your marriage
- Where you have a previous family you wish to retain capital for
- To minimise conflict in resolving financial issues should the relationship break down
- Where you have been married before
- Where you are likely to inherit assets during the marriage
Pre-nuptial agreements are not automatically enforceable in England and Wales at the moment.
However the landmark decision of Radmacher v Granatino in Autumn 2012 ruled that if you enter into a properly drawn up pre-nuptial agreement, fully aware of its implications, it is likely that you will be bound by its terms.
However certain safeguards have to be considered. The family team at AWB Charlesworth can advise on the steps that need to be taken in order to enter into a properly drafted pre-nuptial agreement.
In addition, we can advise on and prepare post-nuptial agreements, entered into after the marriage.
Click here to take a look at our most recent blog on this topic.