A pre nuptial agreement is a contract signed before a marriage, setting out what should happen in the event the marriage fails. They are designed to provide certainty and security for couples. A post nuptial agreement is the same type of contract, but signed after the marriage and are useful if there is a change in circumstances or there was insufficient time to comply with the rules before the marriage .
These agreements are still not binding under English law, however, the courts are placing more and more weight on the existence of a pre-nups.
Generally, the following rules need to be followed to make the agreement as binding as possible:
- both people provide disclosure of their financial situation before the agreement is signed;
- there was no undue pressure; both parties took independent and separate legal advice;
- and most importantly, the agreement must be "fair". It is also generally accepted that the agreement must be signed at least 29 days before the marriage to ensure that there is no undue pressure on either side.
Professional sports people are often young and high earners but with a limit to the length of time that they can earn money from sport and a pre nuptial agreement can protect your assets in the event of divorce or breakdown of a relationship.
For more infromation or Post & Pre Nuptial Agreements, call Jane Hodge on 02392 512030 or email firstname.lastname@example.org