Prenuptial Agreement (Prenup)
An agreement that sets out the current and future financial and property issues of a couple before marriage, including how things will be dealt with in the event of a breakup.
What is a prenuptial agreement?
A prenuptial agreement is an agreement that sets out the current and future financial and property issues of a couple before marriage, including how things will be dealt with in the event of a breakup.
What does a prenuptial agreement cover?
A prenuptial agreement covers property and money owned individually by those getting married or a civil partnership that are to remain theirs if the marriage breaks down, an agreement that neither party will have any claim against the other for maintenance or support if the marriage or partnership breaks down, property acquired after the marriage or partnership will be divided as the couple agree or as ordered by a court, confirmation that the couple have entered into the agreement freely, and have taken or had the opportunity to take independent legal advice, and more.
When should I use a prenuptial agreement?
You should enter into a prenuptial agreement before you are married, and want to define how property and other assets will be dealt with in the event of a breakup.
Do I need a prenuptial agreement?
You should enter a prenuptial if you intend to get married or enter a civil partnership and want to keep previously aquired assets such as property seperate. A prenuptial agreement is not legally binding but will be used as persuasive evidence in court if drafted properly.
Prenuptial agreements are contracts that are executed before marriage. You cannot create a prenuptial agreement after you are married, but you can create a postnuptial agreement. A postnuptial agreement is similar to a prenup but may offer less asset protection because once you are married, many of your assets could already be considered marital property.
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