Pre-nups in 2025
Congratulations!
The wedding season is approaching and, whilst getting ready for the big day, you may also need on your to-do list “Pre-Nuptial Agreement”.
Whilst it may not be terribly romantic, sadly, more than one tenth of marriages end in divorce. This is a high statistic. Each and every one of those divorces would have required a financial remedy order, whether by agreement or a Judge imposing an order.
When looking at the resolution of finances on divorce the court are statutory bound to look at a criteria, known as Section 25. The starting point for a division of assets is a 50/50 split.
But what if you are bringing more wealth into the marriage than your spouse, maybe...
You are a shareholder in a family business?
You have received an inheritance?
This is your second marriage and have a lump sum from your first marriage?
You're a beneficiary of a trust fund?
Your parents are assisting in the purchase of the house?
You a have a large pension?
The court will allow you to protect that by either a Pre-Nuptial or a Post-Nuptial Agreement. There are some guidelines which have to be satisfied to make that Agreement binding:
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a pre-nuptial agreement MUST be signed at least 4 weeks before the wedding. (please do come into see us about 5 months before the wedding (or earlier!))
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you must provide financial disclosure to each other
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you must both have the opportunity of seeking independent legal advice
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the nuptial agreement must still be fair.
The Pre-Nuptial Agreement is there to encourage the marriage and, in the unfortunate event of the marriage coming to an end, to ensure that you are both fully aware as to how finances are to be divided, without the need for potential costly and time consuming court proceedings.
Here at Lawson West, we have a team of dedicated family solicitors who can assist you. Contact us for more information, or for a no obligation initial discussion about your circumstances.
If you believe you have a situation where you require legal advice, please contact us on telephone 0116 212 1000 or 01858 445 480, alternatively complete the free Contact Us form and we will get in touch as soon as possible.
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