More than one in three marriages now ends in divorce. These statistics are even higher for second marriages. No one goes into marriage contemplating that it will end, but increasingly people are looking to protect assets that they have accumulated or inherited before marrying, or have received following a first divorce.
These agreements are not just for the super-rich but for those who want to achieve an element of certainty about their financial future.
Cases in recent years have demonstrated that in some circumstances the courts will find a pre-nuptial agreement decisive in determining the outcome of financial proceedings on divorce. So, although they are not immediately legally binding, in the right circumstances these agreements can and will be upheld.
If you are considering entering into a pre-nuptial agreement, it is sensible to start this process some time before your wedding date. Ideally you should consult a solicitor at least 3 or 4 months before you are due to get married so there is adequate time to negotiate the terms of the Agreement.
Post-marital agreements are also growing in popularity and can sometimes carry more weight than a pre-nuptial agreement. In many cases the terms of a pre-nuptial agreement will then be converted into a post-nuptial agreement after the marriage to provide extra security for those wishing to rely on it.