Prenuptial Agreements

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Prenuptial AgreementsIn recent times Prenuptial Agreements have become more common. Sometimes they are called Premarital Agreements and are also commonly known as “Prenups”. Wiseman Lee LLP are able to help you through the tangled web of Prenuptial Agreements.

Such agreements are often used so as to protect a spouse’s assets or the assets of his or her family. So long as they are prepared properly they should upheld by the courts. A poorly prepared agreement has much less chance of being upheld and this is why it is important that you instruct someone who is an expert in this field.

In the past, Prenuptial Agreements were not recognised by the courts in England and Wales. This has changed since the case of Radmacher –v– Granatino [2010], where the Supreme Court held that courts should give effect to a Prenuptial Agreement that is freely entered into by each party with full appreciation of its implications, unless circumstances showed that it would not be fair to hold the parties to that agreement.

Since this case, there has been an explosion in the demand for Prenuptial Agreements and we are here to help. Jonathan Diamond, head of the Family Law department at Wiseman Lee LLP, will help you prepare such an agreement.

It is a commonly held view amongst people that Prenuptial Agreements are for the privileged few – the rich and famous. This is not the case and any such agreement can be suitable for people who wish to protect their assets such as a house they may own, a business, stocks and shares, savings and other property.

There are a number of types of Prenuptial Agreements, though the agreements that most people require are those to protect assets that they already have. This type of Prenuptial Agreement is commonly referred to as “a Ring Fencing Agreement”.

There are circumstances when a court will not uphold a Prenuptial Agreement and this is something that Jonathan Diamond will be able to discuss with you. Indeed, it is very important not only that you have the correct legal advice but that your future spouse also receives independent legal advice.

The main feature of a “Ring Fencing Prenuptial Agreement” is to agree what property and assets should be brought into the marriage together with their values, and which property and assets should be ring fenced. Those assets will be known as “non-matrimonial” assets.

Wiseman Lee LLP can also prepare Post Marital Agreements. This is similar to a Prenuptial Agreement but is an agreement entered into after the parties have married. Sometimes we can assist in dealing with such matters, if they are straightforward, on a fixed fee basis.

Prenuptial Agreements should not be prepared “at the very last minute”. Ideally such an agreement will need to be signed at least twenty eight days before the marriage and it can take maybe a month or two for the agreement to be perfected.

If you would wish to see Jonathan Diamond for some face to face advice, you can call these offices to make an initial appointment to see him. There is a fee for an initial appointment (which obviously does not include preparing the Prenuptial Agreement) at a reduced cost of £175 plus VAT.

If you are looking for certainty and security and to do the very best to protect your assets, please contact us.

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