Prenuptial Agreements Sample Clauses

Prenuptial Agreements. A Prenuptial Agreement is a contract entered into before marriage which outlines how a couple wish to divide their money and property should the relationship end. Prenups are not strictly binding on the Court in the event of later divorce, but it is likely that a Prenup will be respected by the Court unless the effect of the Agreement would be deemed unfair. Judges now view these agreements as a useful indicator of the couples intentions at the time they entered into their relationship To do the best job of ensuring that the Court uphold the terms of the Agreement it is important to ensure the following:- 1. That there is full disclosure of your respective financial circumstances 2. That both of you take independent legal advice on the agreement and its effects. 3. That the Agreement is entered into in good time prior to the marriage. 4. That there is provision for the Agreement to be reviewed in the event of a future change in circumstances – ie birth of children. 5. That the terms of the Agreement would not cause significant injustice to the other party compared with the award a Court would make following separation. A Prenup is a bespoke document drawn up for the two of you for your particular circumstances, so it can cover almost anything you want it to. There are certain things a couple usually think about when deciding how they would want to work things out if the marriage does not work; What would happen to property either of you brought into the marriage? What would happen to the family home? What would happen to any property given to you or inherited during the marriage or any income or assets derived from Trusts? What would happen to money held in joint accounts and any property purchased jointly? What would happen to any saved money earned during the marriage? What would happen to your pensions? How would you deal with any debts? Would either of you pay or receive any maintenance and, if so, for how long? What kind of events might require the agreement to be reviewed? What kind of arrangements would you like to make for any children you have or are likely to have, both in financial and in practical terms?