More people planning their second, third or fourth wedding are entering into pre-nuptial agreements with their future spouse.
Step-families or blended families are the one of the fastest growing types of families in the UK making up about a third of all UK households.
Older people who might previously have had a bad experience and are looking to re-marry are among those most commonly seeking a pre-nup and over recent years the importance of pre-nups has grown.
Historically they were not binding, but now they will hold sway in court when it can be shown that the agreement is fair to both parties. Both need to have had ample opportunity to seek independent legal advice, the agreement needs to be signed by both parties well in advance of the marriage and both parties must have given full disclosure about their personal finances before the marriage takes place.
With these safeguards, the court is likely to recognise that the pre-nuptial agreement was entered into together and in that case, it can be binding.
Where it can get complicated is when circumstances change – for example if children come along. In cases such as these it is important to review and update any initial agreement, so it remains relevant to the present-day family situation.
More than just factoring in financial situations a pre-nup offers the opportunity to look at the whole picture, taking all assets into account, ranging from family businesses to pets.
There may be someone who has their own business or is a joint owner of a family business. In this instance pre-nups are a useful tool to avoid a former spouse from staking a claim.
For the full range of legal services available from Brindley Twist Tafft and James log on to www.bttj.com
Kate deals with private family law cases including divorce and related financial matters, children, injunction and cohabitation issues. She also advises clients in connection with pre-nuptial and cohabitation agreements.
For the full range of legal services available from Brindley Twist Tafft and James log on to