Family Solicitors Bristol
Thanks largely to the media, most people assume that Prenuptial Agreements are reserved for the rich and famous, those who see marriage as a business arrangement, or individuals who don’t expect their marriage to last. To many the thought of a Prenuptial Agreement is even distasteful, but in some cases this type of arrangement can actually provide security and certainty for the couple, and allow them to get on with their married life.
In the vast majority of marriages, there’s probably no need for a Prenuptial Agreement. A young couple with an average income, little or no assets and no children, are less likely to need a Prenuptial Agreement than an older couple with substantial assets who might be entering into their second or third marriage.
For one thing, while most of us are aware of the statistic that 1 in 3 marriages ends in divorce, these individuals will have first hand knowledge of this fact; and if they are aware that divorce is a real possibility, it might make sense to prepare for it, just in case.
Additionally, if they already have children from their former marriages, and have built up significant personal assets, a Prenuptial Agreement could allow them to maintain possession of some or all of these assets in the event of a divorce, or perhaps their death, so they are still available to their children as an inheritance.
In England and Wales Prenuptial Agreements aren’t overly common, which could be due in part to the fact that they are not legally binding. However, a court may uphold the terms of a ‘pre-nup’ in the event of a divorce, so long as they believe that the agreement is fair.
The questions surrounding the effectiveness of a Prenuptial Agreement make it all the more important that you seek professional advice, and our Family Solicitors Bristol office will help you decide whether such an agreement is relevant for your situation.
If you are planning to get married, our Family Solicitors Bristol office will provide you with the advice you need to decide if a Prenuptial Agreement might be appropriate.