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5 Things you must know about Pre-Nuptial Agreements

25.05.2018 / Kerstin Beyer
 

5 Things you must know about Pre-Nuptial Agreements

Pre-Nuptial Agreements are still not binding in England.

A Judge can alter the agreement if need be. So is it worth your while to enter into a pre-nuptial agreement? And to pay lawyers money to draft them properly? The answer is that that depends. If you have assets, inheritance(s) and/or income to protect then the answer is almost certainly yes. If, however, you have nothing or very little to protect compared to your fiancée then it may not be in your interest to sign a pre-nuptial agreement. It all depends on your circumstances.

Sign the pre-nuptial agreement 28 days before you get married.

This ensures that both of you enter into the agreement freely. Start the discussions early. Find the right moment to talk about everything. Ensure that the agreement is not signed in a rush and under pressure.

Disclose your assets, inheritance(s) and income fully.

This is a very important point. Otherwise a person who has signed the agreement without knowing how much money you had at the time of signing the agreement can argue that he or she did not know everything there was to know about the marriage. Hence could easily say that they should not be bound by the agreement. Lord Phillips said in the famous Supreme Court Case of Radmacher (formerly Granatino) v Granatino which was decided in 2010: “The Court should give effect to a nuptial agreement that is freely entered into by each party with a full appreciation of its implications unless in the circumstances prevailing it would not be fair to hold the parties to their agreement.”

Get independent advice from a family lawyer.

This is particularly important if you have assets/inheritance(s) and/or income to protect. Ensure that your fiancee gets proper and independent legal advice too. Often couples wish to instruct the same lawyer to advise them with regards to a pre-nuptial agreement. However, remember that your interests are hardly ever the same. So there is bound to be a conflict of interest which means that the lawyer can only represent one of you.

Make a fair agreement and update it at appropriate intervals.

If your agreement is fair then a Judge is more likely to uphold it than if the agreement is not fair.

Have we answered your questions? Please call Kerstin Beyer on 0207 9364644 to discuss your situation.

 

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