Prenup agreements ensure both partner’s belongings get shared fairly in the event of a relationship breakdown
It’s no secret that not every marriage ends happily ever after. For many, this means their shared “matrimonial assets” are split based on what the family court thinks is a fair arrangement for both partners. While many assume this would result in a natural, 50/50 split, the reality is often very different, ending up in significant loss to one side on top of any divorce fees.
Prenuptial agreements avoid these issues by ensuring a fair division of assets between each partner, based on their agreement before the marriage.
What is a prenuptial agreement?
Prenuptial agreements set out the terms of the division of the assets owned both individually by both parties and jointly should the couple decide to separate. These assets can be anything from money and property, to ownership of pets or inheritance from family members.
Should the marriage fail, the prenuptial agreement lays out the way in which each partner has agreed to split the matrimonial assets as well as the non-matrimonial assets (eg those brought into the marriage, inheritances & gifts). While some courts may still use their own judgement when dividing those assets (especially if it would cause significant hardship to one side), the prenup is used as a significant part of the decision. It is a factor of significant weight for the court.
Do I need a prenuptial agreement?
We understand it’s not an easy thing to think about when planning to get married, but prenuptial agreements are always worth considering to ensure both parties get a fair result in the event of something going wrong. While they’re not exactly the most romantic consideration involved in getting married, they can prevent significant stress and difficulty (and legal fees) for both sides in the event of a breakup.
Our family lawyers specialise in writing up prenuptial agreements that meet the requirements of all involved. We’ll work closely with you to understand your needs and concerns, creating an agreement that guarantees the security of your assets in the event of a breakup or divorce.
While many couples will never need to consider the prenup after it’s been written, it’s still an important thing to consider by both parties. Inheritance money, property assets and even the confidentiality of a breakup are all things that can cause significant problems if managed badly during a divorce. Here’s what our services provide you:
- Offers safety and security to the assets of both partners should they break up
- Ideal for those who want to ensure their inheritance is protected should something go wrong
- Prenups can ensure the reasons for the breakup are kept confidential, if required
- Our family lawyer team is experienced in all types of prenups and can ensure yours is secure
- Download our FREE Prenuptial Agreement Guide for instant guidance on prenup law.
Prenups are generally only considered by those getting married. However, the number of partners now entering into cohabitation agreements is increasing too. After living together for a while, it can be difficult to understand who owns what. Cohabitation agreements work in the same way as prenuptial agreements, but can be tailored for those who aren’t getting married.