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Pre-nups are for everyone not just celebrities

On the programme, Myleene Klass said: “Not having a pre-nup was the most expensive mistake of my life.”
Many people still believe that pre-nups are only for celebrities. However, a pre-nup is a practical way of safeguarding each party’s assets, in the event of a marital or civil partnership breakdown.
Are pre-nuptial (pre-nup) agreements legal in the UK?
Pre-nuptial agreements have carried significant weight in the UK since 2010. However, the courts have a discretion not to uphold any agreement if it is deemed unfair to the children of the marriage or the parties involved. For example, if the terms of the agreement would cause financial hardship to one of the parties. The circumstances in which the agreement has been entered into are also of importance.
 
I thought UK courts automatically gave each party 50% of the assets?
Generally speaking, in the dissolution of marriage, the starting point for the UK courts is that of achieving equality between the parties.While this may seem fair on the surface, it can be argued that it is only reasonable that someone who went into a marriage with more assets than their partner shouldn’t have to give them up to someone who has not contributed towards those assets in any way. So, for example, if you have assets that you would like to safeguard, i.e., inherited assets, it seems reasonable to protect them rather than risk either losing half or even all of them in divorce proceedings.
Will a UK Court enforce the provisions of a prenuptial agreement?
The court will determine any case on the basis of legislative provision being section 25 Matrimonial Causes Act 1973. A prenuptial agreement would be one of the  factors for consideration. The court will be heavily persuaded to enforce an agreement freely entered into by the parties with a full understanding of its implications unless in the circumstances of the case it would not be fair to hold the parties to the agreement. The needs of the children and the parties concerned will ultimately determine whether it would not be fair to hold the parties to the agreement.Is it worth having a pre-nup?
Whatever your assets, if you want to protect them Atherton Godfrey have specialist lawyers who can advise you and prepare the necessary documents to keep your assets safe. For more information contact 01302 320621.

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