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Nuptial Agreements are growing in popularity. They can be entered into before or after a couple has married but not after they have separated. Both have the same legal implications.
A Prenuptial Agreement is an agreement entered into between a couple prior to their marriage with the intention of setting out the financial arrangements between them during the course of the relationship and in the event that they separate in the future.
Prenuptial Agreements are commonly used in couples where either party has been married before, already has children or has inherited wealth.
A Postnuptial Agreement is the same as a Prenuptial Agreement but it is entered into after a marriage has taken place. They are usually used where the parties intended to enter into a Prenuptial Agreement prior to their marriage but never got around to it.
A Postnuptial Agreement is different to a Separation Deed which is a document drawn up between couples who intend to separate imminently and want to deal with the financial implications of the separation without the need to start divorce proceedings.
Are Nuptial Agreements binding?
Strictly speaking; no. The Courts have the power to make any Financial Orders they see fit on a divorce if it is just and fair to do so. However, provided a Nuptial Agreement has been drafted well and certain criteria met, the document is very likely to persuade a Judge to only make an Order in the terms set out in the agreement. It is for this reason that it is absolutely crucial to take expert legal advice about Nuptial Agreements if you wish to secure more certainty around your financial situation.
Whilst Nuptial Agreements are not legally binding in English Law at present, it is likely they will become legally binding in the future and should in any event be treated by both parties as likely to be upheld by the Court on divorce if it was properly entered into.
If you would like to discuss this further please do not hesitate to speak to one of our friendly team members on 01785 252377 for Stafford appointments or on 01782 813315 for Stoke-on-Trent or Alsager appointments.