PRENUPS & POSTNUPS
Relationship family planning - prenuptial and postnuptial agreements – is a much misunderstood area of law. No one wants to think about things going wrong, but a little bit of planning before, or during, the marriage can mean property and assets are protected for you and your children, businesses can keep trading, and money, loans and gifts brought into the marriage by you or family can be left out of the ‘pot’ for division.
You may be remarrying or there may be inheritance that you’d like to preserve. Far from being unromantic, a mature conversation about such matters shows respect and builds an understanding relationship platform. A Will should be drafted to make sure you both provide for each other and your children on death, but a Will does not protect you during separation.
In recent years, there has been a 50% increase in the UK into enquiries relating to prenup and postnup agreements
WHAT IS THE DIFFERENCE BETWEEN A PRENUP AND POSTNUP?
A prenup is an agreement created before a couple get married. Stated in this agreement is how the couple will divide any assets that they have brought into the marriage, should it come to an end in the future.
When a couple separate, a prenup can save a lot of heartbreak and money. They can potentially prevent disputes, time and energy, and expensive court fees by stating exactly who gets what, leaving no room for argument.
A postnup agreement is created after a couple get married, but is otherwise similar to the prenup. When considering a postnup, it is important to note that once you say "I do", your assets become marital property. The way these assets are split, as well as any future earnings, are determined in the postnup agreement.