Do I need to instruct a prenuptial agreement solicitor?
Yes, prenuptial agreements must be drafted with help from a family law solicitor if you want to ensure the agreement is fair, includes the relevant terms, and meets all the legal requirements.
For validity reasons, both parties must also have received independent legal advice (or been given the opportunity to receive legal advice) regarding the terms of the agreement and any potential consequences before signing the agreement.
How does the negotiation process for a prenuptial agreement work?
Typically, the negotiation process for a prenuptial agreement revolves around the two parties having a transparent and open conversation regarding their prenuptial agreement expectations and concerns.
This discussion focuses on outlining the contents of the agreement and normally includes conversations around the division of assets, spousal support, and how their finances will be managed during the marriage.
To help facilitate a productive discussion, each party will often be accompanied by their own family lawyer to provide them with tailored legal advice and mediation services where necessary. For expert support with this stage of the prenuptial agreement process, talk to Mark Reynolds Solicitors today.
Does a prenuptial agreement require witnesses?
Yes, two witnesses are required to witness the signing of the prenuptial agreement. It’s important to bear in mind that these witnesses must be over 18 and independent, meaning not related to either party entering into the agreement.
To ensure the witnesses meet the necessary requirements, the prenuptial agreement solicitor should make sure the witnesses have signed the agreement and provided certain personal details, including their address and occupation.
Can you review a prenuptial agreement?
In some cases, a prenuptial agreement can be reviewed if a Review Clause is included. Reviews can be arranged every few years or following a certain life-changing event. For example, the birth of a child.
Without a Review Clause, the prenuptial agreement cannot be changed. Instead, you will need to create a postnuptial agreement if you want to alter the terms.
How long does a prenuptial agreement last?
While prenuptial agreements are generally designed to last for the length of the marriage, there are some cases in which they have an expiry date. For example, some couples may choose to include a Sunset Clause in their prenuptial agreement which specifies a future expiration date for the agreement.
However, if your prenuptial agreement doesn’t contain such a clause, then it’s often assumed to last indefinitely. To help avoid being tied into specific terms for too long, a prenuptial agreement solicitor is likely to advise the inclusion of a Review Clause – where the terms of the agreement can be reviewed after a certain period of time or following a significant event.
Regular review of the prenuptial agreement’s terms can help both parties to feel more secure in the relationship. If you’re seeking help from a family law solicitor with experience in reviewing prenuptial agreements, contact our team today.
Are prenuptial agreements automatically enforced?
No, prenuptial agreements aren’t legally binding or enforceable in the UK. However, a judge may take into account the agreement (provided that it’s valid) for the purpose of dividing assets if the two parties can’t come to an agreement between themselves.
A prenuptial agreement must meet certain criteria to be considered valid, including:
- It is contractually valid
- Both parties entered into it willingly
- It must be made by deed and contain a statement signed by both parties
- It must have been made at least 28 days before the marriage
- When the agreement was made, both parties must have received disclosure of information about the other party’s financial situation
- The terms of the agreement must not prejudice the reasonable requirements of children
What is the cost of a prenuptial agreement in the UK?
The cost of hiring a prenuptial agreement solicitor in the UK to draft the agreement can vary significantly. Straightforward prenuptial agreements can cost as little as £500 while more complex agreements can cost up to £5000.
For a more accurate prenuptial agreement services quotation from an experienced family law solicitor, please don’t hesitate to get in touch with our team.
Can you challenge a prenuptial agreement?
Yes, under certain circumstances, prenuptial agreements can be challenged. Among other circumstances, you may be able to challenge a prenuptial agreement if:
- It was unwillingly or untruthfully signed by both parties
- If one party didn’t fully disclose their assets, liabilities, or financial circumstances
- If one party didn’t have the opportunity to receive legal advice before signing
- The agreement is deemed to be unfairly favouring one party
For professional support challenging (or defending) a prenuptial agreement, speak to a knowledgeable family lawyer at Mark Reynolds Solicitors today.
Can I get a prenup after getting married?
A prenuptial agreement relates specifically to an agreement that’s created and signed before you get married or enter into a civil partnership. For a similar agreement after getting married, you will need to set up a postnuptial agreement with support from a family lawyer.
Can I use a prenuptial agreement if forming a civil partnership?
Yes, prenuptial agreements can be just as useful for those seeking a civil partnership as those getting married, offering them the same added reassurance of how their assets would likely be divided if they choose to separate.
What happens to assets acquired after marriage or civil partnership?
Within the prenuptial agreement, you can outline how you want your marital assets to be split in the event of a divorce. The same principal applies to the ending of a civil partnership.
What is the difference between a prenup and a cohabitation agreement?
A cohabitation agreement outlines arrangements (relating to their finances, property, and children) between unmarried couples who are living together. In the event that your separate or either party becomes ill or dies, the agreement outlines their preferred arrangements.
While similar to a prenuptial agreement, the main difference between cohabitation and prenuptial agreements is that the latter is made between two people who plan on getting married soon. Cohabitating couples may have no plans on ever getting married or entering into a civil partnership.
What if we are getting married abroad?
Prenuptial agreements can still be obtained regardless of where you choose to get married.
However, after learning more about your specific circumstances, a prenuptial agreement solicitor may suggest drawing up an international prenuptial agreement that will apply in any relevant jurisdiction for greater protection.
Does a prenuptial agreement mean divorce is more likely?
According to studies, prenuptial agreements by themselves, do not make divorce more likely.
While they may not be the most romantic topic of conversation for newly engaged couples to discuss, these agreements can be incredibly helpful for providing both parties with greater reassurance, clarity, and protection – both before and after they get married.