You may have just got engaged over the Christmas/New Year period and firstly, Congratulations! This will be an exciting time of making wedding plans and discussing all the fun things that lie ahead when considering what sort of wedding you both want.
Often at the bottom of the list or perhaps not even on the list is a Pre-Nuptial Agreement. This may be particularly true where you consider that these types of agreements are only for the rich, famous and the extremely wealthy. Nuptial Agreements can be relevant for couples where their assets may at this time be more modest, but they may change in the future or perhaps this is a second marriage or where there may be a blended family.
You may consider Nuptial Agreements are not valid in this country, however, this is not true. If the agreement has been entered into correctly, it is likely to be upheld, and at the very least considered within any future divorce proceedings. It is therefore extremely important to obtain legal advice as to whether entering into such an agreement would be worthwhile.
After an engagement, couples may feel that discussing financial matters and a possible separation seem poles apart from where they are at. However, discussing these matters when you are happy and in love can in fact help. Unfortunately, when couples separate and seek legal advice it can be very difficult for couples to get past the heightened emotions and reach an agreement.
Married couples have financial claims against one another upon separation and all financial assets in both their joint and sole names will be considered. If you are likely to receive a significant inheritance or you are bringing to the marriage the larger share of the financial wealth, you may wish to look to ‘protect’ these as your property as far as possible. It is important to note that these agreements should be reviewed regularly and when circumstances change e.g. children are born. The longer the marriage, the less reliance there may be on any Nuptial Agreement to ensure both parties’ needs are met and to ensure there is a fair outcome.
Ellisons have a team of senior family lawyers who routinely deal with Nuptial Agreements both Pre-Nuptial (before the wedding) and Post Nuptial (after the wedding), and with international elements too. They can discuss with you the pros and cons of entering into such an agreement and what this means for you. It is important to remember if you wish to enter into a Pre-Nuptial Agreement, that this should be completed and signed at least 28 days prior to your wedding. Please therefore contact our team as soon as possible and we would be happy to discuss your situation and Nuptial Agreements with you.
To arrange an appointment a member of our Family Team, please contact us on 01206 764477. The team can offer advice at one of our offices in Colchester, Chelmsford, Frinton-on-Sea, Ipswich or Bury St Edmunds. We offer a free exploratory call so that we can match your specific needs with the right person in our family team.