Pre-Nuptial Agreements Explained by Solicitors In Bournemouth. You have worked hard for your wealth. You want to make sure you can protect it in case you marriage ends. A Pre-nuptial agreement is important in ensuring that your assets and loved ones, in the UK and worldwide, are protected by the UK Courts in the event you get divorced. People's situation is different - the off the shelf agreement you you find online won't protect everyone. Please note you need 3 months before the wedding for a prenuptial agreement. If you have not got it done by then a post-nuptial agreement will be possible. UK Pre-nuptial agreements must be customised to your personal circumstances. It's not just for Hollywood stars or celebrities. There are many reasons why more and more people enter into a Pre-nuptial agreement. Recent judgements in the Supreme Courthave made them even more valid. And in many countries all marriages are preceeded by a form of Pre-nuptial agreement. Here are a few important things to know about pre-nuptial agreements. Pre-nuptials Help You Get A Fair Outcome In A Divorce Court divorce awards can at times appear to be rather a lottery, particularly in the case of wealthy parties. The starting point is often a 50:50 share of everything. That means house, pensions, and investments. When one person is considerably wealthier than the other, the results can often be very unfair (or very favourable). Wealthy people must look at a Pre-nuptial agreement in the UK as the may lose 50% of their assets (sometimes more) if they divorce. Many people will also want to protect their pension with a pre-nuptial. Even for marriages of reasonably short duration, the financial loss can make life very tough. With a professionally written UK Pre-Nuptial agreement you can redress the lottery of in a UK court-imposed settlement. Pre-nuptials Are AMust Have If You Been Divorced Before. If you have already been divorced your assets may already have been reduced. You may have experienced an unfair division of financial assets. Don't let this happen again. When you do remarry you must ensure your wealth does not make life intolerable in a financial sense. With a UK Pre-nuptial agreement any future damage will not be as painful if there is a next time. Have You Inherited Anything? Make Sure It Stays In Your Family. Pre-nuptials can preserve inherited family wealth. Some family assets have been in the family for generations. They shouldn't be sold because of a court-imposed financial settlement. One partner may already have inherited family assets, or may be due to inherit soon. A Pre-nuptial agreement can help protect the inheritance. To a reasonable degree they can be kept out of any future financial settlement. Without a Pre-nuptial agreement they will be taken into account by the court. Did You Know A Pre-nuptial Can Protect Children and Dependants? If you are thinking about marriage and you have dependent relatives or children from a prior marriage, you must ensure their interests are not jeopardized by divorce. By stating your financial intentions in a Pre-nuptial agreement UK law enables you to protect your children and dependants to a certain extent. You can ensure that your ex-spouse's wishes don't take precedence over, or exclude altogether, the security of your children or family dependants. Have You Got Overseas Wealth That Wants Protecting? It's like that if you are not a UK resident and you may have property and assets outside the UK. If you marry and settle in the UK, on divorce, the English courts will take into account your worldwide assets and divide them on a 50-50 basis between you and your ex-spouse. Just because your wealth is in another country does not mean that a UK court will include them in a divorce settlement. A UK court mainly ignores overseas law where your wealth might be. The UK court will expect you to sell your overseas assets, against your wishes and also to the wishes and expectations of your other family members in your own country. The only legal way to change this outcome is by entering into an appropriate UK Pre-nuptial agreement ahead of getting married. Once we have a clear understanding of your personal circumstances we'll provide the right solution for you. We'll be giving you peace of mind and protection for you and your family. Call me today on Note that Solicitors In Bournemouth is an information website on law for Paul Solomons of Solomons Solicitors LLP. Solicitors Regulation Authority No. 263260. You Must Read This... Landmark News On Pre-Nuptial Agreements from Solicitors In Bournemouth. October 20th 2010 -more on this story click here England's Supreme court confirm that “decisive weight” should be given to pre-nuptial agreements and that appeal judges were right to slash Nicolas Granatino's divorce settlement from more than £5m to £1m. The judges ruled that "decisive weight" should be given to the agreement signed before he married that he would make no claims on Miss Radmacher's estimated £100m fortune. The ruling about pre-nuptial contracts, including those signed overseas, means it’s another step for Pre-nuptials becoming legally enforceable in England and Wales. My view is that it’s important for people to have the choice about their futures considering the wide discretion of the family courts in England and Wales. I expect this ruling will mean more people will take control of their futures after all, in much of Europe pre-nuptial agreements are common and enforceable. I hope that the Law Commission will propose legislation to make pre-nups enforceable and binding. It will help family law catch up with modern society, especially where many second marriages are taking place. The Government needs to bring any such proposal to the statute book so that it is clear once and for all that couples can decide to legally protect themselves with a pre-nup." People often ask me whether valid pre-nuptial agreements are worth getting. This decision should be taken as confirmation that they are. This decision is long overdue. Many people should protect assets before marrying. Pre-nuptial Agreements allow them to do this and the Radmacher decision gives them more reason to do so. Over the last few years, we have seen an exponential increase in the number of clients wanting pre-nuptial agreements. I anticipate the Radmacher decision means that trend will increase. It’s plain that if a pre-nuptial agreement is entered into freely then it will be upheld. Because of this it’s more important than ever to obtain legal advice on a prenuptial agreement. If a married couple enter into a pre-nuptial agreement fairly, providing they meet the prerequisites and consider their current and future situation, they’ll have the confidence that it will stand up in court.
It may also be relevant that divorce laws could change depending on the outcome of the Brexit neogotiations. A prenuptial agreement may also help in this area if divorce law becomes unclear for a number of years. Call 0844 874 5377 For Pre-Nuptial Agreements from www.SolicitorsInBournemouth.com
Solomons Solicitors powers Solicitors in Bournemouth and is regulated by the Solicitors Regulation Authority No. 263260
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