The fact that we specialise in family law means that the solicitors at Higgins Miller have a great deal of experience of dealing with issues such as adoption, children disputes and divorce. We don’t only offer advice to couples wanting to end their relationship, however, since we’re also happy to help those couples who are planning on getting married and decide they’d like to have a prenup 2023.
Prenup 2023 is short for prenuptial agreement 2023, and, put simply, is an agreement drawn up by both parties setting out what will happen – in financial terms – if the marriage or civil partnership ends in divorce or dissolution. A prenup 2023 might seem like an extremely unromantic thing to do prior to getting married, but we know from experience that divorce cases can often lead to huge amounts of stress and conflict when the parties in the marriage are unevenly financially balanced. Creating a fair and balanced prenup 2023 can make sure that the stress, arguments and court appearances that transpire when a divorce is contested don’t actually have to happen, providing peace of mind for both parties at the beginning of their marriage.
A prenup 2023 will take the form of a document setting out what happens to those assets which were brought into the marriage by each of the parties if the marriage breaks down at some point. Much of the media coverage of prenup agreements has tended to centre upon the lifestyles of the rich and famous, as these were often thought to be the kind of high net worth individuals for whom a prenup 2023 would be worthwhile. This kind of thinking has shifted in recent years, however, for a couple of reasons. The first reason is that many people now enter a marriage already owning property, and when a family home in the south east of England can easily be worth half a million pounds this becomes an asset that is worth protecting. The second reason for the rise of the prenup 2023 is that more people than ever before are now getting married for the second or even third time. This creates a situation in which the question of assets and who they belong to in the event of a divorce is one which could impact on the children from previous marriages. In a situation such as this, a prenup 2023 won’t be designed to protect just the person getting married, but also their immediate family, and will be regarded by the couple in question as a form of safety net protecting them from the potential fall out of any dispute over the division of assets following a divorce.
When someone comes to us to draw up a prenup 2023 we will explain very clearly that it is not strictly a legally binding document. What our experience has taught us, however, is that a prenup 2023, if it has been drawn up properly by qualified professionals, is likely to be referred to by the court when it comes to drawing up a legally binding post-divorce financial settlement. This is only going to happen if the prenup 2023 has been drawn up in a calm and methodical manner over a longer period of time, rather than hurriedly put together in the period just prior to the marriage taking place. There is also the question of the language used in the prenup 2023, which has to be highly precise. If not, there is a good chance that a judge or lawyer could claim the prenup 2023 is invalid on the grounds that it is not fair and objective. In addition to this the prenup 2023 will have to meet the following strict conditions if it is to be taken seriously by a court:
Both parties to the prenup 2023 need to have taken independent legal advice
Both parties need to give a full and complete disclosure of the assets they are brining into the marriage. The financial disclosure needs to be as detailed as possible, and should have been completed before work on the actual prenup 2023 begins
Neither of the parties should have been put under any pressure to agree to the prenup 2023
The prenup should not have been created fewer than 21 days before the date of the wedding itself
A prenup 2023, if it has been created with due care and attention, will accurately reflect the financial status of both parties at the time of the marriage. If it is to remain useful over time, however, it will need to be revised on a regular basis. There is a chance, for example, that the financial balance within the marriage shifts as one of the partners builds their earning power. If a prenup 2023 is not revised to take account of these changes in financial status, it may not be taken seriously by a court.
Each prenup 2023 will be unique in reflecting the relationship it deals with, but the kind of details a court would expect to see include the following:
- A list of assets such as savings, money held in bank accounts and stocks and shares
- Details of how the family home will be dealt with following a divorce
- An explanation of who will be responsible for clearing debts built up during the marriage by either partner
- What any children from previous relationships will be entitled to in the event of a divorce
Once the prenup 2023 has been written up it needs to be signed by two independent witnesses, one representing each of the parties. Being independent means that these witnesses can’t be family members. They also need to be over the age of 18. A witness signing a prenup 2023 will also need to set down their address and the details of their employment.
If you’d like to find out more about a prenup 2023 please call us on 0161 429 7251 or email us at [email protected]. We’ve recently passed our Cyber Essential accreditation, something which demonstrates our forward-thinking attitude and determination to remain ahead of the competition. The first 20-minute appraisal is provided free of charge, and we’ll give you the first appointment for a fixed fee, so you don’t have to worry about how much our advice is going to cost. If you want to explore our wider charging system then please take a look here.