A Pre Nuptial or Pre Marriage Agreement is when two people intend to marry and wish to regularise the legal position of their assets should they subsequently divorce.
The current position in the UK is that such agreements are not binding but an ever more important factor which the Court can take into account when deciding a financial settlement. This is in contrast with American and some European countries where pre-marital agreements are binding.
It is important to review a pre-marital agreement on a reasonably regular basis particularly if the parties have children it is important to consider converting a pre-marital agreement into a post-marital agreement which takes into account changes in the circumstances of the parties.
It is crucial when drawing up a pre-marital agreement or converting to or creating a post-marital agreement that the parties are legally represented by separate lawyers.
For further assistance please contact one of our family team.