What happens to child arrangements if an ex-partner wants to relocate abroad?
While entering a pre-nuptial agreement might seem unromantic, it can offer many practical benefits.
Outlining what would happen to assets in the case of divorce or separation can help protect family wealth from being classed as matrimonial property.
What does a pre-nuptial agreement involve?
A pre-nuptial agreement is signed before a marriage, outlining what would happen to assets in the event of a divorce or separation.
These agreements are often used in situations where one partner has substantially larger assets than the other, or if they have family wealth they want to protect.
By having plans in place, you can ring-fence the following assets:
- Pre-marital assets – Anything owned by one individual prior to a marriage.
- Inheritance and family wealth – Assets that are gifted or inherited to an individual.
- Business assets – Assets of a business to ensure there are no disruptions to operations.
- Trusts – Setting trusts aside from assets included in a financial divorce settlement to shield family wealth.
- Assets for children – If there are children from a second marriage, an agreement can make sure assets intended for them aren’t classed as matrimonial.
Pre-nuptial agreements can ensure inheritance is left outside the assets included in a financial settlement, protecting the line of succession.
This can extend not only to assets likely to be inherited in the future, but also those that have already been received.
Will a pre-nuptial agreement hold up in court?
While pre-nuptial agreements are not legally binding in England and Wales, they are becoming increasingly legally recognised by courts.
The agreements can be seen as proof of a couple’s pre-marriage intentions, provided specific legal safeguards were met.
These safeguards include evidence that the agreement was entered into freely and without coercion, meaning both partners were fully aware of the terms.
Pre-nuptial agreements should be signed in good time before the wedding and must meet the reasonable financial needs of both partners, especially if children are involved.
However, leaving it too late isn’t fatal, as post-nuptial agreements can be signed following a wedding and are treated largely the same in England and Wales.
While the divorce court will always have the final say in whether a pre-nuptial agreement holds, meeting these conditions maximises the chances that they will be legally acknowledged.
Speaking to a legal professional
Reaching out to our legal team can help you draft a clear and robust agreement that reflects your values and fairly protects family wealth.
No one wants to feel like they’re planning for the end, but a pre-nuptial agreement can mean both parties are entering a marriage with that extra bit of clarity.
Arrange a consultation today to explore what a pre-nuptial agreement could mean for you.
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