In recent years the law has taken a very different view to parties entering into financial agreements before marriage. Not so long ago these prenuptial agreements would have simply been ignored by judges if the matter went to court.
Things have moved on, and although there are still some technical issues relating to the enforcement of pre-nups, the courts will generally uphold them provided the parties have been properly advised both legally and financially, and they have made full and frank disclosure of their finances to the other.
Why do you need a pre-nup?
It is often said that you only need a prenuptial agreement if the parties have very different financial positions, but in my view a properly drafted pre-nup can save a lot of heartache, cost and pain by ensuring that future-acquired assets can be dealt with in accordance with the parties’ agreement, rather than relying on the decision of a court.
It is also important to consider proper provision for children in pre-nups. If no provision is made there is a risk that a court may simply strike out the whole agreement and make its own decision.
Having a pre-nuptial agreement can therefore provide the parties with emotional and financial certainty. If your circumstances require it, I would strongly advise you to ask me to draft a suitable pre-nup.
Post nuptial agreements are, as the name suggests, agreements entered into after marriage. Unlike pre-nups they are recognised in statute law and are enforceable in the same way as separation agreements. Again, they can save a lot of uncertainty and heartache in the event of the relationship breaking down.