You may wish to consider a Prenuptial Agreement for the following reasons:-
- There are assets and/or property that would be difficult to split equally.
- You and/or your partner have children from previous relationships and wish to ensure certain assets are reserved for those children and that their inheritance rights are protected. In cases where there are children, note, we would be advising that itis crucial to make a Will simultaneously with the Prenuptial Agreement to ensure such protection was in place.
- Parties wish to protect inherited money or assets.
- Parties wish to safeguard substantial savings or potential future inheritance.
- Parties wish to predetermine as much as possible how financial issues are to be resolved in the event of a marriage breakdown. This can be especially helpful and comforting if a party feels that they have suffered unfairness in previous divorce proceedings.
- If either party owns a business of which they wish to retain control.
- If either partner is already in financial difficulties and is being pressed by creditors.
As no two situations are the same, every Prenuptial Agreement must be tailored to the parties particular circumstances and full disclosure between the parties is an essential requirement as Prenuptial Agreements will usually set out full details of each parties assets and liabilities.
Similar Agreements can be used for those looking to enter into Civil Partnerships.
These Agreements are particularly relevant when parties are entering into second marriages and even more so when there are children.
We also recognise that such Prenuptial Agreements do not exist in a vacuum and can advise on their impact on conveyancing matters, Wills and Tax planning.