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A prenuptial agreement (sometimes called a pre-nup or premarital agreement) is an arrangement entered into by a couple before their marriage. The agreement is designed to set out what should happen regarding any financial arrangements if the marriage ends.
The purpose of a postnuptial agreement (also called a post-nup or a post-marital agreement) is also to specify what should happen to each partner’s assets after divorce however, a postnuptial agreement is entered into by the couple after the marriage has taken place.
Nuptial agreements are most likely to be of benefit where one or both parties to the marriage already has a significant level of ‘premarital assets’.
Prenuptial agreements have the benefit of providing clear evidence of who owned what at the point the parties married. The significance of this is that assets brought into the marriage can, in many circumstances, be disregarded when financial arrangements are being made at the time of a divorce. This is called non-matrimonial property. It is therefore less likely to be divided equally, because it is not the product of the marriage partnership.
To speak with one of our Family law solicitors, please contact us on 0800 923 0400.
