Pre-Nuptial Agreements: A Complete Guide

Marriage is a beautiful bond between two people. The life that awaits them is just as exciting as the preparations for making a wedding grand, such as the dresses, the venue, the decorations, etc.

In the hustle and bustle of all the wedding decorations, a prenuptial agreement is an essential element that often gets ignored by most couple. While some couples might forget about it, some simply choose to ignore it.  

To establish why signing a prenuptial agreement is important, let’s first discuss what a prenuptial agreement is.

Prenuptial Agreement

A prenuptial agreement is signed by two people about to get married to settle finances in advance. The contract lists the assets each person owns as well as any debts owed by the person.

It clearly lists each person’s share in the property and the division of finances if the couple decides to dissolve the marriage.

Who Should Sign Prenups?

Contrary to popular belief, prenups are not only for the wealthy who have several properties and assets. Prenup agreements apply to any couple who decides to get married.

Even if you own just one property or a small apartment, a prenup will give you the right to have control over its possession and make decisions about it yourself, rather than giving that right to the state.

Why Are Prenups Important?

With the 21st century bringing a powerful wave of individualism, prenuptial agreements have increasingly become more important. Here’s why every couple intending to get married should sign a prenup.

Neat Distribution of Assets

The kind of relationship couple has while entering a marriage is quite different from the one they have during the dissolution of the marriage. Things are more likely to get messy during a divorce, and couples might act out of impulse or have negative feelings towards each other.

However, when matters such as finances are discussed initially, they’re more likely to be fair, mutual, and clean.

Protect Rights of Children from Previous Marriages

If any of the partners already have children, the agreement can ensure they receive their share of assets after their parent’s death. This rule also applies to any former partners assigned to receive a share of their partner’s assets.

Protection From Debts

If stated in the prenup, you can protect your spouse from any debt that you owe. This means that they won’t be held responsible for paying back any loans on your behalf.

Keep Heirlooms Within the Family

Heirlooms hold immense sentimental value for couples. The couple can make it a point to keep specific heirlooms within the family to maintain their value.

Both parties must hire a divorce solicitor to draft prenups and work closely with them. This is essential because judges meticulously examine prenups in courts, and any mistakes can cost a lot for either partner.

If you’re looking for an expert prenuptial lawyer, give us a call at Wembley Solicitors. Our solicitors can help offer legal advice in helping you draw up a prenuptial agreement to ensure a fair and just division of finances between partners.