Pre-nups - for better, for worse, for everyone

As prenuptial agreements are back in the headlines, wealthy individuals may in the future gain considerable financial protection by entering into this type of agreement before marriage.

Moore Blatch Matrimonial expert, Jane Thomas says that the case of Radmacher v Granatino which is currently being decided in the Supreme Court could bring the courts a step closer to considering prenuptial agreements more readily, if properly drawn up. 

“Over the last six months, divorce settlements have featured heavily within the news, with many being surprised by the financial outcomes ordered by the court,” said Jane.

At present prenuptial agreements are not legally binding within UK courts, but they can still be used to give an indication of the parties’ intentions at the start of a relationship.

Jane continues: “Despite this, they can still provide considerable protection for the wealthier party and I would always recommend they enter into one.”

So what would be the procedure for entering into a prenuptial agreement, Jane provides a helpful summary below of what you can expect:

• If you decide to complete a prenuptial agreement, you must enter into this 21 days before the wedding.
• Before signing any agreement, both parties must give full financial disclosure.
• The stronger party must not put any pressure on the weaker party.
• Both parties must receive competent independent legal advice.
• After the wedding, you do also have the option of entering into a post nuptial agreement, which can help reinforce and support the terms of the prenuptial agreement.

“Entering into financial discussions at an early stage of a relationship could save a lot of financial wrangling and heartache later on if the relationship breaks down irretrievably,” concludes Jane.