This is an agreement entered into by a couple before they get married setting out how they will organise their finances during the marriage and what they would wish to happen in the unhappy event of a divorce. This could avoid a costly and unnecessary dispute at a later date.
These have not been legally binding in English Law. However, in a recent case decided by the Court in 2010, the Court decided to let a Prenuptial Agreement stand.
However, great care needs to be taken in drafting the same in order for it to have the best chance of being upheld by a Court.
It is best to observe good practice by trying to ensure that it is fair and both parties need to provide disclosure of their financial circumstances when entering into it to try and avoid it being challenged on the subsequent breakdown of a marriage.
It is also important that it is not left too close to the date of the wedding as this will make it less likely that the Court will uphold it.
We have lawyers who are specialised in drafting Prenuptial Agreements and would be happy to help you with the same.