3 Important Things You Need To Include In Your Pre-Nuptial Agreement

Pre-nuptial agreements—a legal agreement between two people before their marriage—have been rising in popularity. For some people, signing a pre-nuptial agreement before their married life begins is imperative.

While no one goes into a marriage expecting it to end, some consider it better to take preemptive measures to protect themselves in the unlikely event of divorce. The Office for National Statistics reported that there were 101,669 divorces of opposite-sex couples and 338 divorces of same-sex couples.

The pre-nuptial agreement, according to UK law, sets out how assets will be divided if you’re getting a divorce. For many, this precautionary measure provides peace of mind and sets the ground for an amicable financial settlement if it comes to divorce.

While pre-nuptials are not legally binding in UK courts, judges do tend to uphold them when the divorce agreement is drawn up.

The most important aspects to include in your pre-nuptial agreement are:

Estate Planning

Planning for how your estate will be protected in the wake of a divorce is important. While joint assets will be divided accordingly between you and your partner, a pre-nuptial agreement can help you decide what happens to your personal assets.

By providing guidelines for how your separate personal estate will be divided between your offspring and partner in the event of your demise is an equally important consideration.

Debts and Assets

Married couples often jointly own their assets but a pre-nuptial agreement allows you to maintain control of your personal assets and property.

These primarily include assets that you accumulated before your marriage and safeguards them from your partner’s control. This is especially important in the case of personal business ownership or important heirlooms that have been passed down by your family. By signing a pre-nuptial agreement, you’re protecting them from being considered joint property.

Inheritance for Dependent Children

While a pre-nuptial agreement cannot account for custody or child support, you can ensure provisions for your children. The agreement will account for the inheritance of assets and how the children will be financially taken care of in the event of a divorce.

The advice of skilled legal experts can ensure you’re well aware of your financial decisions when you make them. At Wembley Solicitors, we’re dedicated to making sure you start your marriage off on the right foot to guarantee a lifetime of bliss.

Call us for our expert advice at 02034173700.