Prenuptial Agreements
At The KAM Group we understand that the idea of signing a prenuptial agreement before marriage may seem a little pessimistic, but this is far from the truth. Even setting aside the high rate of divorce in the UK, prenuptial agreements are a sensible way of starting out a marriage with a shared sense of honesty and openness.
Taking the time to agree with your partner what should happen to assets in the event your marriage fails reduces uncertainty and stress in your relationship and, should the worst happen, a prenuptial agreement can be an invaluable resource to have in divorce negotiations.
Our consultants have extensive experience of advising and assisting our clients with preparation and execution of prenuptial agreements.
If you need advice regarding prenuptial agreements and how they can work for you, click the link below to put you in touch.
Why not get in touch today, and see how our consultants can help with your prenuptial agreement requirements with a free, no obligation consultation.
What is a prenuptial agreement?
A prenuptial agreement (often referred to as a prenup) is a contract entered into between two parties before they marry. It records the ownership of assets and details what will happen to these assets should the marriage break down and end in divorce.
In the simplest of terms, a prenup dictates “who gets what”, but there is a lot more to consider before deciding on signing a prenuptial agreement.
Who should get a prenuptial agreement?
Once you are married, any assets you formally owned yourself may become matrimonial assets. If they are treated as matrimonial assets, they are thrown into a proverbial pot, where they may be shared between you and your partner.
Should the marriage end in divorce, both partners will then have a claim on these assets. A prenuptial agreement allows for each partner to ring-fence certain assets to protect them from this eventuality – and these assets don’t have to have a high financial value or even be in your possession at the time of signing the prenup.
How common are prenuptial agreements?
In recent years prenuptial agreements have become increasingly common in the UK. Once perceived as a tool for the wealthy, they are now widely regarded as a practical measure for couples seeking clarity and protection of their financial interests.
What is included in a prenuptial agreement?
Prenuptial agreements can cover a lot of different issues. When drawing up an agreement, your consultant will advise you on what is appropriate to include.
Are prenuptial agreements legally binding?
Prenuptial agreements are legal documents that will be considered by the Courts when prepared correctly.
How much does a prenuptial agreement cost?
For a typical prenuptial agreement, our fees will probably range between £1,500 and £3,000, with this figure increasing as the value of assets and the complexity of the case increases. If the agreement has a total asset value that exceeds £1 million a more bespoke service will be required, which will naturally incur a different fee structure.
If you have any other questions, please don't hesitate to contact us
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