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If you have been presented with a prenuptial agreement (often called a ‘prenup’) hopefully this is not a surprise to you, as it is now seen as a sensible measure for many couples. However, you may be wondering if you have to agree to everything set out in the document, or how strong your negotiating position is if you want to propose changes to some of the terms.
The short answer is: no, you are not obliged to sign any prenup. It is a voluntary agreement and you cannot be forced into signing if you do not want to. Marrying someone does not mean you also have to agree to their financial terms and what they would want to happen on any future divorce or dissolution of a civil partnership.
However, deciding whether to sign a prenup can be more nuanced, so here are some factors to consider:
Yes, it is a requirement that a prenup is signed at least 28 days before your wedding date. This is just one of the important criteria to ensure that your prenup is deemed a ‘qualifying nuptial agreement’ that will stand up in court one day, if you need it to. Do bear the deadline in mind and ensure that you are allowing plenty of time to have the necessary discussions with your partner and lawyer, and remember that the lawyers also need sufficient time to properly prepare the document for you.
If you wish to go ahead, but find that you are unable to agree to the terms of the prenup before the 28-day deadline, you can opt to sign a postnuptial agreement after your wedding instead.
Once you know what the draft prenup says, you will of course ask yourself whether the proposed divorce terms work for you. Remember, a significantly one-sided agreement could be thrown out by the courts in future, so achieving fairness is key.
In order to see whether the deal is good or bad, there has to be full and transparent financial disclosure from both of you, which can be referred to when looking at the prenup terms. This will ensure that you have done your best to make informed decisions about what is fair and what is not.
Each prenup is tailored to a couple’s specific circumstances and needs, so you will have to think about things such as:
Regardless of what the financial landscape is now, the courts will still apply the law so that both of your housing needs are met and nobody is left high and dry. Inevitably, events will take place during a marriage which will alter your financial needs and so there should be review clauses in the draft prenup to ensure any updates and changes can be made.
Before signing a prenuptial agreement, bear in mind these considerations:
Ultimately, the decision of whether to sign a prenup is a personal one. By understanding your options and having open communication with your partner, you can make an informed choice that feels right for your future together.
Whether you have only just set your wedding date, or your partner has given you a draft document to sign, we can provide you with the specialist advice required to ensure your prenup secures a fair deal for you.
For further information, please contact Hannah Byatt in the family law team on 01733 882 800 or email [email protected].
Hannah Byatt BA (Hons), Partner
Partner - Team Leader Family
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