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Pre nuptial agreements
A Pre-Nuptial Agreement is a document drawn up by parties who intend to marry, that sets out the arrangements to be made in the event of their separation or divorce. The agreement will usually set out the arrangements for any children and the financial arrangements. A Pre-Nuptial Agreement can help protect your interests in the event of the breakdown of your relationship.
As it stands Pre-Nuptial Agreements are not binding on the parties or the court but are likely to be taken into consideration by a Judge when asked to divide a family’s assets upon separation. They are particularly appropriate in the case of second marriages where parties wish to preserve the assets they brought into the relationship and any future inheritance of their children. They are also useful where one party has acquired their own wealth prior to the marriage.
It should be noted that the likelihood of a Pre-Nuptial Agreement being binding will diminish the longer the marriage lasts and with the arrival of any children.
Pre-Nuptial Agreements are an emerging area of law and it is impossible to say whether they will become binding upon parties and the courts at any stage in the future. However they have certainly been given more weight following recent case law. If you have any questions or would like to draw up an agreement we have experienced lawyers who will be able to assist you.