Prenuptial Agreements Hertfordshire
Prenup
A prenuptial agreement (“prenup” for short) is a written contract created by two people before they are married.
A prenup typically lists all of the property each person owns (as well as any debts) and specifies what each person’s property rights will be after the marriage.
Although prenuptial agreements are often associated with celebrity couples they are certainly not exclusively for this area of society.
A prenuptial agreement does not take precedence over the court’s ability to make a financial remedy order on divorce. However, the existence of such an agreement properly entered into can be a factor which the court takes into account when exercising its discretion under the Matrimonial Causes Act.
Personal or Business Assets
Any couple who has personal or business assets and brings them into a marriage can benefit from a prenup. In it’s simplest format a prenuptial contract lists an inventory of premarital assets that in the event of a divorce will remain the property of their original owner.
A prenup can be of benefit to both parties prior to marriage because they set out and preserve the expectations of the parties and prevent any surprises should a relationship unfortunately end in a divorce.
The agreements can also specify that future income from a business or additional assets accrued through inheritance are not to be shared with your spouse should the marriage end.
Prenuptial Agreements Hertfordshire, Herford and Nationwide