Prenups and Postnups: You Don’t Have to Figure It All Out Before Marriage

Prenups are a great way to protect yourself, your partner, and your future before you enter a marriage, but there is a misplaced belief that you can only make marital agreements before you tie the knot.

What is a prenup for?

Unfortunately, there is still a lot of stigma around the idea of getting a prenup, with many people wrongly assuming that it means you’re expecting your marriage to fail before it’s even begun. But you don’t get home insurance hoping a tree falls on your house, so you shouldn’t feel cynical for getting a pre-nuptial agreement before you’re married.

A prenup is a document that you and your soon-to-be spouse sign which sets out what happens if you ever divorce. It can cover everything from pre-marital assets, fair division of assets, to spousal maintenance, to protecting certain assets or property from being shared with your spouse.

If you are entering into a civil partnership, the equivalent document is a pre-registration agreement.

Do you have to sign a prenup before marriage?

Yes, both parties will need to have signed the prenup a minimum of 21 days before the wedding in order for it to be valid. In order to arrange for and sign a prenup, you and your partner will need to meet with independent representation, complete a full assessment of your assets, debts and any property, and come to an agreement on what you would like your prenup to include, so it’s important to start this process early on to avoid rushing and creating unnecessary stress so close to your wedding date.

What if I need to change my prenup?

You cannot change a prenup after you get married, but you can replace it with a post-nuptial agreement (known as a postnup).

A prenup is only of value to you and your partner if it accurately reflects your circumstances. Throughout your marriage, you may have children, change jobs, set up a business or receive an inheritance, and any one of these events could make your prenup redundant. That’s why a postnup is a great option for spouses or civil partners who either did not originally create a prenup, or who would like to replace their prenup so that it accurately reflects their life at that point in time. Many prenups are also drafted for them to be reviewed after a period of 5 years or after children so that the agreements continue to reflect what is best for your family.

What is the difference between a pre-nuptial and post-nuptial agreement?

Fundamentally, both documents are the same; they include the same information and serve the same purpose. The key difference is that a prenup is created before marriage, and a postnup is created during a marriage. Both are intended to help you and your partner in the event of a divorce, so that your assets and needs are protected.

Are prenups and postnups legally binding?

In England and Wales, pre and post-nuptial agreements are not currently legally binding, however, a strong and fair agreement will be considered by courts during any divorce proceedings and is likely to be upheld.

For a prenup or postnup to be considered, the court will need:

• Full & frank financial disclosure, which lists all savings, investments, pensions, properties or overseas accounts you both may have
• The agreement to be signed freely, without coercion or pressure from either party
• Both parties to fully understand the implications of signing the agreement
• Adequate provisions to be made for children (if applicable)
• The agreement to be reflective of current circumstances and to provide a fair settlement if there is a future divorce
• Both parties to have independent legal advice

What should you include in a prenup or postnup?

Every nuptial agreement is different and personal, but it should reflect what you want to happen and how things should be divided in the event of a divorce, to minimise the chance of disputes or additional legal fees being incurred. The more comprehensive your agreement, the more likely the court will choose to uphold it.

A prenup or postnup should include:

• An agreed amount of spousal maintenance (if relevant), based on anticipated childcare or income disparities
• A breakdown of any debts and how you expect this to be split
• Any financial assets you do or do not wish to share in the event of a divorce, such as pensions, properties or savings that you brought into the marriage
• Any expectation of gifts or inheritances you expect to receive in the future
• Division of property that you jointly own or contribute towards
• Expectations of what will be covered in your wills
• Details of life insurance

You may also choose to include additional information or provisions in your agreement. For example:

• If you provide financial support to help your partner set up a business, you may want to reclaim your investment in the event of a divorce
• If your partner owns the marital home, but you contribute to the bills and home renovations, how much of the property value you would be entitled to if you later sold

How do you get a prenup/postnup?

As long as both parties have their own legal representation, it’s very straightforward to arrange a prenup before marriage, or a postnup during marriage.

If you’re interested in setting up your own agreement, please get in touch to speak with one of our expert family law solicitors today. We offer 30mins free initial appointments.

Contact MBH Solicitors in Wigan now:

📩 mbh@wigansolicitors.com
📞 01942 206060