Since the celebrity hype surrounding Pre-Nuptial Agreements, it is becoming an attractive mechanism in which parties can try to protect their assets in the unfortunate event that their marriage breaks down.
A “pre-nup” is a formal agreement between two parties who intend to marry. Often, a pre-nup is entered into where one party has significantly more wealth than the other. An agreement is drafted by a Solicitor and then signed by both parties. The agreement can then be referred to in the future, if the marriage breaks down and a divorce is sought, the parties to the marriage enter into financial disclosure or a dispute as to how the assets of the marriage should be distributed.
Whilst there are many occasions when pre-nup agreements are successful, they are not currently legally binding and therefore the Court does have the discretion to disregard them in circumstances where it is believed that upholding the pre-nup agreement would cause substantial hardship to either party or a child of the family.
We at Hill and Company Solicitors have experience in drafting such agreements and are also experts on all matrimonial matters. If you would like more information, please do not hesitate to call our Family Law department today on 0161 928 3201.