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Pre-nups and post-nups

In this week's blog by Melinda Smith, Managing Partner and Family Lawyer at Fraser Dawbarns Solicitors, we are highlighting the confusing world of pre-nups and post-nups.

The main points are:
  • They are not formally recognised in English matrimonial law but are increasingly common and taken very seriously by the courts when correctly drawn up and guidelines adhered to
  • They can seek to ringfence assets brought into marriage by either party
  • A way of protecting inheritances/family businesses, providing safeguards for children from previous relationships
  • Provides certainty to couples in an effort to minimise cost and stress in the difficult time of a relationship breakdown
  • Can be done after marriage as a post nuptial agreement if financial circumstances change and the parties want to protect windfalls or inheritances.

So, you’ve organised your big day, the guest list is finalised and your honeymoon has been booked. Everything is set for you both to start your journey into married life…or is it? It may not be an obvious part of the wedding planning process but have you arranged your Pre-nuptial agreement (Pre-nup)? Although the hope is you would never need to rely on one, given how life can change, isn't it better to be prepared and protected? A Pre-nup provides certainty and can minimise cost and stress during the difficult time of a relationship breakdown. Whether you have inheritances or a family business to ring-fence or have children from a previous relationship who need to be protected and provided for, a Pre-nup is a sensible option for most couples.

It is true that Pre-nups are not officially recognised in English Law but don’t be mistaken, they are increasingly common, and taken very seriously by the Courts when correctly drawn up and when guidelines are adhered to.

If you haven’t already got one in place don’t worry, you can still protect yourself and your assets with a Post-nuptial agreement (Post-nup).  Drawn up after marriage these can be used if financial circumstances change and parties want to protect windfalls or inheritances.

Whatever stage you and your partner are at it definitely pays to consider the financial consequences of a relationship ending. It’s surely worth taking some expert legal advice and Fraser Dawbarns LLP has a number of Family lawyers who are able to offer exactly that.  Why not book your free initial consultation now by emailing enquiry@fraserdawbarns.com or telephoning 01354 602880.

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