Protect Your Assets

Are you getting married this year? What’s on your ‘to do’ list? 

If you are planning a wedding, you’ll know it can take 12 months or more to organise and involves decisions on everything from outfits and flowers to venues and entertainment.  Whilst it is one of the most exciting times of your life - not knowing what is around the corner, it is equally as important to plan for your future.  Maybe you will start planning for buying a house together and the possibilities of having babies. So why wouldn’t you plan to protect your assets and property in case things don’t work out further down the line?

That's where a pre-nuptial agreement comes in. A pre-nuptial agreement is a legal document that outlines how your assets and property will be divided in the event of separation or a divorce. When properly prepared by a family law solicitor it can help to provide clarity and peace of mind for both partners, and can help to avoid potential disputes in the future.

Why do I need a pre-nuptial agreement?

A pre-nup can help to establish a clear and fair financial arrangement for both parties to protect their assets. This can help to reduce disagreements and tensions during the marriage, and can also make it easier to manage finances as a couple. 

If you own property, have investments or significant savings, a pre-nup can ensure that those assets are protected and remain in your possession if the marriage ends. This is especially important if you have children from a previous relationship that you want to provide for.

Should you end up separating or divorcing one another, a pre-nup can provide clarity and certainty in the event should it happen. By setting out clear guidelines for the division of assets and debts, a pre-nup can help to reduce the stress and uncertainty. Furthermore, a pre-nup can outline who will get what in the event of a divorce, and can help to avoid lengthy and expensive legal battles.

Why do I need a solicitor for a pre-nuptial agreement?

Solicitors understand the complexities of family law, including property division, spousal support, child custody, and child support. This knowledge is invaluable when it comes to creating a pre or post-nuptial agreement that is fair to both sides.  By instructing a family law specialist you are ensuring that any document is legally fair to both parties.  An experienced lawyer can identify any potential issues or gaps in the agreement, and they can advise you on how to address them.

What if I’m already married or I don’t have time before the wedding?

Don’t worry, if you're already married or have a civil partnership, a similar document called a post-nuptial agreement can provide you with the same financial protection as a pre-nuptial agreement.  

Post-nuptials can be useful where circumstances have changed since marriage. For example, if one partner inherits a significant amount of money, a post-nuptial agreement can help to protect those assets.

What if I live together with my partner but we are not married?

Moving in together with your partner is a big step and every couples situation is unique.  Just because you live together doesn’t mean you shouldn’t protect your interests and assets.  You can still set out the same protection as a pre or post-nuptial agreement but in the form of a co-habitation agreement.  A solicitor will help you to understand your legal rights and obligations, and provide guidance on how to negotiate the terms with your partner. They can also help you consider different scenarios that may arise in the future and ensure that the agreement takes these into account.

How do I obtain peace of mind for myself and my partner?

Whether you're concerned about assets, spousal support, or just want to clarify your financial responsibilities, a pre/post-nuptial or co-habitation agreement can help. Pickerings Solicitors (Tamworth) Ltd specialise in family law and can provide tailored advice to your individual circumstances and ensure that any agreement is clear and comprehensive, whilst being fair to both parties.  With a strong emphasis on communication and cooperation Pickerings also have collaboratively trained lawyers who can act as mediators, allowing you to avoid the court room and retain control of a mutually agreeable outcome.

If you are in need of any advice, call Susan Davies on 01827 317078 or email sdavies@pickerings-solicitors.com 

You can also glean more information from our Family Law pages on our website

The contents of this article are intended for general information purposes only and shall not be deemed to be or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.