Family Law Solicitors
Pre- and Post-Nuptial Agreements Solicitors Essex
Pre-Nuptial Agreements
A pre-nuptial agreement is an agreement between a couple before they marry detailing the ownership of their respective assets in the event that their marriage breaks down. Pre-nuptial agreements are important when a person has a large estate or expects to receive a large inheritance.
Pre-nuptial agreements aren’t for everyone. For example, a young couple getting married who bring few or no assets to the marriage union has little need for such a contract. Whereas, for couples getting married with significant assets or a large estate, a pre-nuptial agreement is essential.
You can determine what share your spouse will receive of your estate in the event of divorce or your death, as well as protect any income or assets you earn during the marriage.
A pre-nuptial agreement is generally said to be more straightforward than post-nuptial agreements as it is made before a couple’s assets become combined, marital assets.
Post-Nuptial Agreements
A post-nuptial agreement is almost identical to a pre-nuptial agreement. The biggest difference is that a post-nuptial agreement is made after the wedding.
Many couples opt for post-nuptial agreements simply because they were unable to draft, finalise and sign a pre-nuptial agreement given all the chaos and excitement of wedding planning. Others see the procedure for a pre-nuptial agreement as awkward and better to deal with after the wedding.
If you are considering a post-nuptial agreement, it’s important to understand that many of your assets become marital property as soon as you marry. Therefore, as a couple you will need to determine how to divide these marital assets as well as any future earnings in your post-nuptial agreement.