A UK prenuptial agreement made in advance of the wedding day ensures that each party protects their personal assets. Being a legal document it has to be drawn up correctly. It is also in a couple's best interest to use the services of a solicitor when drawing up the agreement. This is particularly important as UK courts, under current law, do not have to take a prenup into consideration when deciding how to divide up assets following a divorce. A UK prenuptial agreement can also be quite complicated, so seeking legal advice when drawing one up will assist greatly
So when deciding how to make a prenuptial agreement, the following points should be included.
- Both parties should ensure that all details of their personal assets are listed when devising a prenup. If they fail to do this the courts may refuse to consider the agreement should a divorce case ever ensues.
- The prenup must be drawn up no later then 21 days before the wedding. If this is done later it may be subsequently claimed that agreement was made while one of the couple was under duress.
- Make sure that all the provision of the agreement are written down and included in the prenup. This is vital if there ever is a divorce and the agreement has to be presented to a court.
Getting ready to be wed is a time of love and romance and divorce will not even be considered by either party. However, we have to face reality. With one in two marriages in modern Britain ending in divorce, it is wise to prepare for the worst. This will probably be considered by those who have been married before, however for those entering into their first marriage they should think about making a prenup.
A UK prenuptial agreement is particularly important for someone rich in assets entering into marriage. It will make sure they can keep these in the event of a divorce. Without the prenup he or she could lose at least half of them. Also those assets acquired during the marriage may also be protected by a prenup, provided this is stipulated in the original agreement.
Making a prenuptial agreement is a sensible precaution should the marriage turn sour and end in divorce. With these agreements still having no formal legal standing in the United Kingdom, it is clear that following the much-publicised Radmacher case, but UK courts will pay increasing amounts of attention to them. If you do decide to enter into a prenuptial agreement, it is absolutely essential it stands up to scrutiny when being looked at by a court. This must be considered when deciding how to make a prenuptial agreement.