Pre-nuptial agreements are signed by parties in anticipation of marriage or civil partnership and sets out how assets will be divided if the relationship does not work out.
Prior to 2010, pre-nuptial agreements were considered to be “contrary to public policy”, meaning they were very rarely considered. However, 2010 saw a turning point in the law in relation to pre-nuptial agreements. On the 20 October 2021 the case of Radmacher v Granatino provided a new outlook on how the law is to deal with pre-nuptial agreements. There are three main factors that must be considered when considering a pre-nuptial agreement:
Full and frank disclosure:
Both parties to the agreement should be aware of all of the other assets that are being considered. Both parties have a duty to be fully open and honest with each other regarding assets in their possession.
Individual legal advice:
Each party needs to seek their own legal advice. A couple cannot speak to only one solicitor. The parties may have competing interests, so they need individual legal advice. One solicitor will draft the agreement and send it to the other party’s solicitor to read and approve.
Timing:
Pre-nuptial agreements must be signed at least 28 days before the marriage or civil partnership. This 28-day period ensures that both parties have a sufficient amount of time to consider the agreement that they will be signing, and it confirms that neither party are signing under duress.
If a pre-nuptial agreement is something you or your partner are considering and you wish to discuss it with a skilled professional, please do not hesitate to contact our Family Law team at Martyn Prowel Gartsides Solicitors on 02920 470909.