Prenuptial & Postnuptial Agreements
Everyone wants security in their civil partnership or marriage. Although a prenup/postnup may come with a negative reputation, drafted one can be a wise choice to make, especially if one partner enters the marriage or civil partnership with significantly higher wealth or assets.
Contents for Prenuptial and Postnuptial Agreements
What are Prenuptial and Postnuptial Agreements?
A prenuptial agreement is designed to give peace of mind to both parties in a marriage or civil partnership. It is a contract that dictates exactly who owns what such as finances, assets and property, in order to protect yourselves in the event of a divorce.
A postnuptial agreement is exactly the same as a prenuptial agreement, in the sense that it addresses the same issues, but they are agreed on after you and your partner are already married or in a civil partnership.
You should know…
1. You should be aware going into a prenup that it is not a legally binding contract, and can be disregarded in a court of Law especially if it hasn’t been drafted by a Lawyer.
2. Don’t be afraid to get a prenuptial or postnuptial agreement
There may be prejudice or negativity surrounding your decision to get a prenup or a postnup. But if its something that you and your partner have decided to do together, it will provide you both with security and will prevent issues should anything happen down the line
What areas do we cover
Our team will encourage you to get a prenuptial or postnuptial agreement if:
1. You are, or you own, the majority shareholder in a successful business
2. You stand to inherit a significant sum of money
3. You have shared assets that would be difficult to share equally
4. You have children from another relationship and want to protect their inheritance
5. You own assets that stand to gain income in the future
6. You or your other partner has outstanding debts
What are the benefits of having a prenuptial or postnuptial agreement?
Discussing a prenuptial or postnuptial agreement with your partner can be quite intimidating. But having that honesty right at the beginning will be really beneficial for your relationship and make sure that you are both on the same page.
A prenup or a postnup can give you protection for the future. It essentially means that in the event of either a divorce or the end of a relationship, your assets and your wishes are protected and clearly laid out.
3. SAVING TIME AND MONEY
Going through a divorce in general can be a long and very expensive matter, especially when both parties are struggling to come to an agreement about assets, monies and property. By having a prenup or postnup right at the beginning, it can save you both money and time further down the line should your relationship come to an end.
4. DEBT PROTECTION
By creating a prenup or postnup agreement, you can make sure that any debt your partner brings to the relationship is handled correctly in the event of your divorce.
How can a lawyer help with your prenuptial or postnuptial agreement?
While you don’t have to have a lawyer for your prenup or postnup, its highly recommended that you do.
You may have issues further down the line if your agreement has not been correctly drafted. For example, a judge might throw the document out in court if it has not been made with legal supervision.
The other difficulty about not using a lawyer is that you might find that you don’t know exactly what the contents of your agreement should be. They might include things that you and your partner didn’t discuss or you may make mistakes that a lawyer would have otherwise been able to point out.
Your lawyer will be able to confirm that the agreement is fair and you will be able to avoid claims that either party is acting involuntarily. This way the document is 100% valid and you both know exactly what the contents are.
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