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Do you need a Pre-Nuptial Agreement?


Divorce Needs
Published: 30th June 2006 - Category: Pre-Nuptial Agreements - Author: Lynne Bastow

What Is A Pre-Marital Agreement?

A Pre-Marital Agreement is an agreement between two people contemplated and completed prior to their marriage which specifies the division of their assets in the event of divorce.

Is It Worth The Paper It’s Written On?

Perhaps!

Judges are starting to take them into account but are not bound by them.

There are certain guidelines which will go a long way to ensuring your Pre-nup has standing:

  1. Don’t bully your partner into signing!
  2. Draw the agreement up as soon as possible.
    How soon?
    At least 3 weeks but preferably 3 months before the wedding.
  3. Both parties MUST HAVE independent legal advice.
  4. Reveal everything (about your finances).
    Without full financial disclosure it really is worthless because the other party does not know what they are agreeing to. Obvious? Should you be contemplating marriage if you want to keep your financial affairs secret? Do you think she might only be marrying you for your money? Are you good looking, kind, dynamic, thoughtful, romantic, understanding, intelligent, generous, good fun? No, at least one of the above? If not, your suspicions could be right.
  5. Is it fair?
    Come on, that needs no further explanation.

How sound your pre-nup is also depends on how long your marriage lasts and whether you have any children. Although you could take that into account a la certain celebrity marriages, i.e. the amount of money she gets increases with each year of marriage. That puts a new spin on the old “we’re only staying together because of the dog” approach and is a useful form of pension saving for the wife.

The arrival of children, if not contemplated and provided for in the pre-nup will seriously undermine an agreement. Sensible and fair.

Anybody considering marriage in England and Wales, and in the lucky position of having more assets than their intended spouse should seriously consider a pre-nup.

Lynne Bastow Divorce Solicitor

Meet Lynne Bastow

With over 16 years experience, Lynne can provide excellent and valuable advice and has a friendly, positive approach towards all her clients, ensuring you get the best service possible.

Read Lynne's Books

If you need more information on divorce, Lynne has published two informative guides on divorce, which you can purchase from Amazon.

The Little Book of Divorce

The Little Book of Divorce

Buy on Amazon
The Little Book of Divorce Dilemmas

The Little Book of Divorce Dilemmas

Buy on Amazon
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