For many people, planning for divorce before getting married is unthinkable. For others, especially those who have been married before, are bringing assets to a marriage, are likely to inherit or receive wealth in the future, or wish to recognise the position of children from previous relationships, a ‘prenup’, or a ‘postnup’ can be a valuable way to formally record how they want finances to be dealt with if things don’t work out as they hope.
In recent years the law has developed to make prenups very powerful documents, provided all the necessary safeguards have been met.
What is the difference between a Prenuptial or Postnuptial Agreement?
As the name suggests, ‘prenups’ are carried out prior to the marriage or civil partnership, whereas ‘postnups’ are formalised during the course of the marriage or civil partnership.
What are the benefits of Prenuptial & Postnuptial Agreements?
Such agreements ensure you and your partner consider financial issues at the outset. Financial conversations are serious and shouldn’t be avoided;
They minimise issues arising during divorce proceedings because the division of assets has already been agreed;
Prenups give you and your partner greater clarity for the future and a foundation of trust and honesty to build upon;
You have control over your assets and where they will go, rather than allowing the law to dictate this on divorce.
Why should I consider a Post-Nup?
A Postnuptial Agreement can be very useful when circumstances within a marriage may have changed, for example when one party has inherited money or property and wishes this to be dealt with in a specific way.
All relationships are unique so for tailored advice please Book Your Free Consultation.
For further key advice surrounding Assets & Pre-Nuptial Agreements we recommend taking a moment to watch these videos:
This all applies to same-sex couples who are registering, or have registered, a civil partnership. The law however, is quite different when it comes to those who are Cohabiting. For further advice on Cohabitation and your rights, please click here.
At Goughs we have considerable expertise in advising sensitively and constructively on this developing area of law to ensure that your interests are fully protected.
To find out whether a Prenuptial or Postnuptial agreement would be right for you, book your free consultation today to speak to an expert lawyer, call 01249 712193 or email firstname.lastname@example.org.
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