Banner Jones can advise you on if you need a pre or post nuptial agreement.
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With high profile cases such as the Mills and McCartney raising the profile of acrimonious settlements, it is little surprise that couples thinking of marrying would now give consideration to some sort of pre-marital prenuptial agreement.
A pre or post nuptial agreements should be considered if:
We advise that pre-nuptial Agreements are reviewed regularly and especially upon a change in circumstances, such as the inherited wealth from a parent.
Making a Will is commonly associated as something you do in later life however, in reality anyone over the age of 18 can have a Will and we would strongly recommend it to anyone with children.
Talk to Banner Jones. We are ready to help you.
Prenuptial agreements are common place on mainland Europe but the courts in England and Wales have always been reluctant to have their overall discretion as to how assets should be divided upon divorce tied in by an agreement reached between two parties prior to the marriage taking place.
A gradual shift towards recognising the validity of pre and post nuptial agreements was brought to a head by the case of Radmacher v. Grantino. This case went to the highest court in the land, The Supreme Court, purely on whether a pre-nuptial agreement entered into by the parties in Germany three months before they married was applicable in law in England and Wales.
The Supreme Court decided in October 2010 that it was natural to infer that parties entering into agreements of this sort will intend that legal effect would be given to those agreements. Unless the outcome of the pre-nuptial agreement was unfair to any children of the marriage, in which case the court could still ignore or vary the agreement, the agreement would be upheld by the court.
A financial settlement should be fair, this is based on the needs of both partners and the welfare of any children involved.
Where there are plenty of assets you should consider having a prenuptial agreement. You may be able to use a prenuptial agreement to provide some protection to your assets that you bring into the marriage.
As soon as possible. The longer the pre-nuptial agreement is in place prior to a marriage or civil partnership being entered into the better. However, agreements entered into after marriage or Civil Partnership can still have legal effect. In order for a pre-nuptial agreement of this nature to be made binding there needs to be independent legal advice for both parties, full and frank financial disclosure and no duress. If a pre-nuptial agreement of this nature is entered into at the church door then it is open to an allegation that one party or the other has been under a level of duress to enter into the agreement.
A pre or post nuptial agreements should be considered if:
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