A prenuptial agreement is not supposed to cause issues between partners before they get married, instead the agreement is drafted to sort out any concerns which could arise if they ever did decide to divorce. It is a lot easier and cheaper to discuss the potential issues pre-marriage rather than hostile disputes and costly legal fees during the divorce proceedings. Getting married is an exciting time for any couple, but amidst the wedding plans and celebrations, it’s important to also think about the practical aspects of your future together. One of the more serious considerations is whether to sign a prenuptial agreement (prenup). While they might not seem the most romantic subject, prenups can offer real benefits, particularly when it comes to protecting your assets and setting clear expectations in the event of a divorce. In this post, we’ll explore the legal benefits of prenups under UK law and debunk some common misconceptions.

What Is a Prenuptial Agreement?

A prenuptial agreement is a formal, written contract entered into by two people before they marry. It outlines how assets and finances will be divided in the event of a separation or divorce. Prenups are not just for the wealthy; they can benefit any couple who wishes to safeguard their assets and avoid potential disputes in the future.

Are Prenups Legally Binding in the UK?

The legal status of prenuptial agreements in the UK is slightly different from some other countries. In England and Wales, prenups are not automatically legally binding. However, since the landmark case of Radmacher v Granatino in 2010, courts have been more willing to uphold them, provided certain conditions are met.

For a prenuptial agreement to be given significant weight by a court, it must meet these key criteria:

1. Both parties must have entered into the agreement freely: There should be no pressure or coercion.
2. Full financial disclosure: Both parties must fully disclose their financial situations before signing.
3. Independent legal advice: Each party should receive independent legal advice before agreeing to the terms.
4. Fairness: The agreement should not be grossly unfair or leave one party in serious financial difficulty.
5. Signed in good time: The prenup needs be signed well in advance of the wedding (at least 28 days before).

Even if a prenup meets these conditions, a court may still modify it if circumstances have changed significantly since it was signed (e.g., the birth of children). The main purpose of the prenuptial is to form the basis of the agreement which can be used as a template for the finances during divorce proceedings when drafting the Consent Order and Statement of Information Form.

Legal Benefits of Prenuptial Agreements

1. Clarity and Certainty
   A prenup allows couples to clearly outline how their assets, including property, savings, or businesses, will be divided if they divorce. This provides both parties with certainty and can reduce stress and conflict if the marriage does end.
2. Protection of Pre-Marital Assets
   If one or both parties have significant assets they acquired before the marriage, such as property, business interests, or savings, a prenup can protect these assets from being divided in the event of divorce.
3. Safeguarding Inheritance
   Prenups can help protect family wealth or inherited assets, which may be intended for children or relatives. This can be especially important in second marriages where either party has children from a previous relationship.
4. Debt Protection
   A prenup can protect one party from being held responsible for the other’s debts, including any business liabilities or personal loans.
5. Preventing Long, Costly Court Battles
   In the event of a divorce, having a clear agreement can reduce the need for lengthy legal proceedings, saving both time and money.

Common Misconceptions About Prenups

1. “Prenups Are Only for the Rich”
   Many people assume that prenups are only relevant for the wealthy. In reality, prenups can benefit anyone who wants to protect their financial interests. For example, if one partner owns a property, has savings, or runs a business, a prenup can help safeguard those assets.
2. “Signing a Prenup Means You’re Planning for Divorce”
   This is perhaps the most common misconception. Prenups aren’t about planning for divorce; they’re about being realistic and responsible. Just as you would take out insurance to protect your home or car, a prenup is a way to safeguard your financial future. No one expects to get divorced, but it’s wise to prepare for all possibilities.
3. “Prenups Aren’t Fair”
   The idea that prenups are one-sided is a myth. A properly drafted prenuptial agreement takes into account the needs and rights of both parties. In the UK, courts are unlikely to enforce a prenup if it leaves one partner at a significant disadvantage or in financial hardship.
4. “Prenups Can Cover Everything”
   While a prenup can cover many aspects of financial arrangements, it cannot deal with all matters. For example, prenups cannot legally dictate child custody or child support arrangements, as these are matters that the court will decide based on the best interests of the child. It can also mention future inheritance.
5. “Once It’s Signed, It Can’t Be Changed”
   Circumstances can change throughout a marriage, and a prenup can be revisited and updated if necessary. For example, the birth of children or a change in financial circumstances may warrant revising the terms of the agreement.

Final Thoughts

Prenuptial agreements can offer a great deal of security, transparency, and peace of mind for couples. While they may not be the most romantic element of wedding planning, they are a practical tool for managing future financial risks. In the UK, while prenups are not automatically binding, they are increasingly upheld by courts when drawn up correctly.

If you’re considering a prenup, it’s essential to seek independent legal advice to ensure the agreement is fair, properly drafted, and compliant with UK law. Taking the time to discuss and agree on your financial expectations now can save heartache, confusion, and costly disputes in the future.

Going through a divorce is an emotional and stressful time for both parties; it is crucial that you have a good understanding of what rights you have and the process entailed. We recommend that you contact a Solicitor at the beginning of the process.

In the majority of cases, the main asset to be disputed during a divorce is the Family Home. A place which is often cherished with many fond memories from the beginning of the relationship, which can also be the home where the children grew up in. The Family Home can be considered an emotional asset, which some parties cannot bring themselves to sell due to the memories, although for some, the sale can be the beginning of a new start.

The first thing you will need to do is to establish whether the Family Home is registered with Joint Tenancy or Tenants in Common. It is pivotal that you understand the difference, how you hold the Property can impact you on the sale or in death. If you are not named on the Family Home title deeds that does not mean you are not entitled to a share of the net equity from the Property; you will need to speak with a Solicitor to understand what rights you have. If the Property is registered with joint tenancy, it means you both own 50% of the legal and beneficial rights of the Property. Although, if one of you passed away then the other will own the entire rights to the Property. If the Family Home is registered as tenants in common, it would normally show in a Declaration of Trust how the Family Home will be apportioned. This also means, if you pass away your portion of the Property will be distributed in accordance with your Will. We highly recommend you speak with a Private Client Solicitor to discuss your Will.

Both parties need to consider their finances and lending ability. We recommend that before you even make up your mind, you need to think about the following:

• Book an appointment with a mortgage broker to discuss your mortgage lending capacity
• You will need several valuations on the Family Home
• You need an understanding of what remains on your current mortgage and whether there are any hidden Early Repayment Charges
• Conveyancing fees for the cost of a sale
• Estate agent’s fees

Whether you sell the Family Home or Transfer the Equity in the Property for a lump sum, you will need to discuss the matter with a professional. The Solicitor will be able to discuss with you the full financial disclosure process, how the net sale proceeds could be apportioned and what percentage you may be entitled to.

You will need to start to think about the kind of home you will need post-divorce. This will vary depending on whether you have children, how many rooms will you need, the location and your affordability. The blunt truth is that you may not have enough net equity from the sale of the Family Home to purchase a Freehold Property and may need to rent, purchase a Shared Ownership or perhaps live with family. It is best to research properties online or by contacting your local estate agents, who will give you a better understanding of your availability and options.

The finances and division of your assets can be a lengthy legal process, so it is pivotal that you obtain legal advice early on, so you know exactly what has to be done, preventing you from agreeing to less than what you are entitled to.

Franklins can guide you through the process which begins with an initial fixed fee meeting cost. We can discuss divorce, children matters and financial matters with you.

If you feel Franklins might be the right firm to advise you on your legal position, and you would like to enquire about when an initial appointment could be scheduled, contact our Family Law team on 01604 828282 / 01908 660966 or email info@franklins-sols.co.uk

Make your voice heard, put a stop to any abuse by legally having a defence in place with a Non-Molestation Order, preventing the offender from being within the radius of you and your property.

Domestic abuse is not a subject anyone wants to discuss, it pulls on heartstrings and raises many questions, whether you believe they will change or the impact it could have on your children. You will have lots of thoughts running through your head, such as, ‘how can you leave, will they follow you, do you report the incident to the police, will your life ever be normal again’. Speaking to a solicitor on the matter will help you establish what can be done.

There was a rise in domestic abuse during to the COVID restrictions due to couples being confined to their homes without any escape, so much so that the government removed the application fee.  It is during the Christmas time when domestic violence is at its worse, as financial burdens can have an impact on relationships causing frustration. Non-molestation orders are not only for partners but can be for family members and co-habitants.

The courts will consider whether the parties have somewhere to stay as they will not want a party to be left homeless. However, if you know the offender has somewhere else to stay, then you can make an application to remove the offender from the property and restrict them from getting close. If an incident occurs and you are in imminent danger, then it is always best to call the police.

It is any young children of the parties who are impacted the most. The safety of the children is paramount, and the courts will take their safety into consideration when granting the injunction order.

Domestic abuse impacts both men and women, you may not think you have any rights, you may believe you cannot afford to leave, and love can be the main factor, but your safety is the main concern. We can provide you advice before any legal proceedings to make sure you are doing the right thing, we can arrange a fixed fee meeting by telephone when you are alone, video chat or a face-to-face meeting at one of our offices where you will feel safe.

We can arrange to have an emergency application for non-molestation and occupation order or injunction proceedings, to prevent the offender from coming within a certain distance of you and children and not have access to come within the facility of your home. The application can be sent to the courts and heard without notice therefore your partner will not be aware of the application until after the first hearing. A successful application means the judge will provide a sealed order, which we will serve on the defendant whether by the court or through a process server. The order means you will be able to call the police and have the offender arrested if they breach the conditions of the order, allowing the police to act immediately.

The Applications can be downloaded from the Government website, however we are here for you, please talk to us to arrange for a fixed fee meeting and we will make sure we can do all we can to legally protect you as Non-molestation are a comprehensive side of Family Law.

Make your voice heard by contacting Franklins Solicitors.

If you feel Franklins might be the right firm to advise you on your legal position, and you would like to enquire about when an initial appointment could be scheduled, contact our Family Law team on 01604 828282 / 01908 660966 or email info@franklins-sols.co.uk

Divorce

It is not a simple matter of beginning your no-fault divorce online by yourself, it is pivotal that you receive the right advice to prevent your ex-partner from coming back for more money. It is crucial that you put a financial consent order in place showing what each party are receiving and can prevent any disputes in the future!

You may believe you are both amicable now, but a lot can change during the 26 weeks whilst you wait for your Final Order, whether it’s the start of a new relationship, child arrangements or pensions being disputed, it is best to resolve all loose ends to allow you both to more on.

There are a few things to think about whilst you are waiting 20 weeks for the courts to issue your Conditional Order and an additional 6 weeks for the Final Order. We highly recommend that you obtain legal advice on the finances before you finalise the divorce.

Alternative Dispute Resolution

Both amicable and contested consent orders need to go through solicitors to be agreed. However, there are a number of alternative solutions that can be discussed with your instructed solicitor, such as Mediation, Collaborative Law, Arbitration and finally Financial Court Proceedings.

Finances

If you did not put in place a pre-nuptial agreement before tying the knot, now is the time to think about the matrimonial home and your assets. You need to consider whether to have a Separation Agreement drafted or make the agreement legally binding with a Consent Order, which is sealed by the courts. Parties can choose to amicably agree the contents of the consent order and have one solicitor to draft it with parties obtaining Independent Legal Advice before signing. The main topics to be discussed with the instructed solicitor are the Matrimonial Home, Pensions, Life policies, Spousal Maintenance and Child Maintenance.

Children

Your Divorce does not only impact you but your children as well, it is crucial to arrange child arrangements with your ex-partner. The courts will not get involved unless one party disputes the arrangement. It is highly recommended that parties attend mediation to obtain legal advice on the matter before proceeding with any arrangement.

Every situation is different and at Franklins we can guide you through the process which begins with an initial fixed fee meeting costing £195 during which we can tailor the advice to you depending on the situation with the intention of guiding you to a fresh start without the fear that your ex-partner will come back for more.

If you feel Franklins might be the right firm to advise you on your legal position, and you would like to enquire about when an initial appointment could be scheduled, contact our Family Law team on 01604 828282 / 01908 660966 or email info@franklins-sols.co.uk