Prenuptial Agreements in the UK
Whilst a sad figure, the fact that two out of five marriage now end in divorce means that it is more important than ever to think about how your finances are organised when you are entering into a marriage. Whilst difficult to contemplate, it is in everyone’s best interest to ensure that there’s a plan in place for a clean, co-operative separation if things don’t work out.
What is a prenuptial agreement UK?
The current legal standing of prenuptial agreements in the UK courts mean that equal weight should be given to the terms of a pre-nuptial agreement UK, as long as:
- Each party freely entered into the agreement
- Both parties fully understood the terms of the agreement at the time
- It would be fair in the circumstances of the case to uphold it
Following the Supreme Court Decision, the Law Commission then took this change one step further by drafting the Nuptial Agreements Bill to reform the existing UK law. Prenuptial agreements are no legally binding, reducing the court’s power to make financial orders on a divorcing couple. With the help of family law solicitors, setting up a prenuptial agreement can be straightforward. There are also a number of different benefits, such as;
- Less stress
- Financial transparency
- Potential to save money
- Protection of your assets
- Protection from your partner’s debts
- Protection for your business partners
What is the process of getting a divorce, and where do I start?
In order for you to be able to file for divorce, our divorce solicitors need to be able to prove that your marriage has broken down. This may be due to adultery, unreasonable behaviour, desertion or separation for a period longer than two years.
The formal divorce procedure begins when you file a divorce petition form. You can pay the fees and submit your petition at your local divorce centre.
If both parties agree with the petition, before or after informal or formal negotiations, the divorce can go ahead. However, if disputes occur and they can’t be easily resolved, your case may go to court.
What about our children?
Child disputes can easily occur if you disagree about where your children should live, visitation rights, parenting plans or child maintenance.
Making arrangements for children during a divorce is often a very emotional and difficult process, and much better handled outside of the courts. A judge will only hear child custody issues if you can’t reach an agreement through mediation and negotiation first.
A specialist divorce solicitor can help ensure the agreements you reach are legally binding by drafting a ‘consent order’. After both parents have agreed the consent order, it will be signed off by a judge. They will only do this if they believe you have acted in the best interest of the children and they aren’t concerned about their safety. If you’ve tried everything else and your dispute does go to court, then a judge will decide on the arrangements.