Understanding pre and post-nuptial agreements.
Pre-nuptial Agreements are set up prior to marriage or a civil partnership, whereas Post-nuptial Agreements are set up after the marriage or civil partnership has taken place.
Both types of agreements are documents in which a couple set out their rights in relation to any property, debts, income and other assets purchased together or acquired individually (e.g. through inheritance), as well as those that they have brought into a relationship.
Once married or in a civil partnership, these assets become matrimonial assets unless specifically protected.
It is a common misconception that Pre-nuptial and Post-nuptial Agreements are only for the rich and famous. However, such agreements are suitable for anyone who wishes to protect their assets. If you have children from a previous relationship and want to ensure that you reserve certain assets for them if your new relationship fails, then a Pre-nuptial or Post-nuptial Agreement may be a way of achieving this.
How can Prism Family Law help?
If you are interested in exploring Pre or Post-nuptial Agreements, do contact us on 0191 269 6871 or via email legal@prismfamilylaw.co.uk.