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What are pre-nuptial agreements?
Pre-Nuptial Agreements are usually drawn up by Solicitors in the form of a written Deed. In this way the parties can be as clear as possible about the terms of their agreement.
In the past it has not been usual for couples planning to get married to enter into such agreements and regulate how assets are held. Normally they would be too busy planning a romantic wedding. However in today’s climate more people are considering Pre-Nuptial Agreements. Such agreements have been widely used in other countries, particularly in the United States of America. In those countries they are recognised by the Courts, but in this country they are not legally binding.
Our Courts have in the past been hostile to agreements entered into before the marriage when deciding on division of property. It was felt that such agreements would restrict the Court’s discretion in making decisions based on the circumstances at the time of the breakdown of the marriage.
However, the Courts have recently been more willing to take Pre-Nuptial Agreements into account. In a number of cases over the last few years the Court has allowed the existence of a Pre-Nuptial Agreement to be considered as one of the relevant factors to be taken into account as ‘one of the circumstances’.
It could be argued that parties who have assets and are planning to marry should seek to regulate how these will be held in future in a Pre-Nuptial Agreement, because it will at the very least be a record of the parties’ intentions at the time it was drawn up.
Our experienced Family Law Solicitors, Ms. Rai at our Cheltenham Office and Mr. McCarthy at our Gloucester Office, can advise on all aspects of Pre-Nuptial Agreements. They will indicate when such an agreement is appropriate and will draft the necessary document.