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Pre-nuptial agreements are becoming increasingly common as a means of protecting a family’s assets in the current financial climate.
The family structure has changed over the years and families are becoming far more diverse, making it even more desirable to structure financial commitments before marriage.
If a pre-nuptial agreement is prepared properly, both parties will have given full disclosure and received legal advice in which case it would be binding and upheld by the courts. It does, however, need to be reviewed from time to time to ensure it is effective and appropriate. It can be amended during the course of the marriage, by agreement.
For those families that wish to protect their wealth, prenuptial agreements and trusts are the way forward, particularly where couples are entering into their second or third marriages and wish for their property to pass to their children from previous relationships.
Pre-nuptials can also serve as a means of protecting the wider and extended family, where family businesses share ownership. The same protection applies when a property is being passed down a generation following divorce.
The prenuptial agreement can record those assets that are wholly external to the marriage so that they are treated differently by the courts.
If the parties do not enter into a prenuptial agreement, they can after the marriage, enter into a post-nuptial agreement. The same principles apply in that there has to be full and frank disclosure with both parties having had the benefit of appropriate legal advice.
Mr & Mrs H from Solihull
Correspondence was clear with ‘legalise’ and we always received friendly and efficient responses to our telephone enquiries.
Mrs W from Warwick
I would like to thank Cherie for all her hard work on our estate’s behalf. I have felt confident that we were in safe hands with her at the helm throughout this lengthy process and I am most grateful for all you have done