What you need to know about pre and postnuptial agreements UK: Myths vs Facts
When planning a wedding or facing difficulties in your marriage, legal agreements may not be the first thing on your mind.
However, understanding how a prenuptial (pre-nup) or postnuptial (post-nup) agreement can protect your future is crucial. Let’s explore some common myths and key facts about these agreements.
Many believe that pre-nups are only for the wealthy, but this isn’t the case. A prenuptial agreement is simply a legal contract between two people preparing for marriage. It outlines how assets, debts, and financial responsibilities will be handled if the relationship ends.
With more people marrying for a second or third time, pre-nups are becoming increasingly popular. They can protect personal wealth, inherited assets, or business interests, helping to avoid financial disputes later.
A postnuptial agreement serves a similar purpose but is made after marriage. Couples often consider them after major life changes, such as inheriting assets, selling a business, or moving abroad.
While not automatically legally binding in the UK, courts take them seriously and are increasingly giving weight to them, provided certain conditions are met. The agreements should be fair and both parties should receive independent legal advice.
Many assume that only the family home is at risk in a divorce, but all assets are considered including pensions, savings, and business assets. Pensions, in particular, are often overlooked, yet they can be one of the most valuable assets in a divorce settlement.
Contact Lucy to discuss this further.
