The most common motivation for marriage is when a spouse has many more assets or property before marriage. This means that they will lose much more than others in a divorce scheme of equal size. A spouse may want to protect savings or other assets accumulated years or even decades before the breakdown of marriage. We look at when a marriage deal is a smart idea and if you should have one if you tie the knot in the near future. Marriages have the form of a written agreement between a couple before marriage. The purpose of a prenup is to determine ownership of all the couple`s property (fortune, money and property) and explains how these assets are divided in the unfortunate case of a divorce. A marital agreement can be a complex subject that requires many in-depth discussions on topics with which there may be differences of opinion. Mediation is a great way to start your marriage – it`s an option that many don`t know is available to them. In the United Kingdom, marital agreements are not always legally binding, but the courts need a good reason for not complying with them. For example, if, for whatever reason, the court finds that the agreement is unfair and does not meet a person`s current needs, it cannot be maintained, although the agreement is always taken into account in the final decision.
The current state of the law is this: however, you could look at the statistics and look at the idea of a marriage deal in the UK in the same way as insurance for critical diseases – unpleasant and hopefully useless, but useful to have the worst in the worst case. Pre-marriage agreements are not applicable in British courts, but recent jurisprudence has shown that judges are prepared to give them considerable weight and to stop them as long as certain precautions have been taken in the development and signing of the agreement. Marital agreements will not be automatically enforced as soon as a break-up occurs, but they will still have a significant influence on court decisions. Prenup must be reviewed to ensure that it has all the necessary details and that it is fair and reasonable, that no partner has been pressured or compelled to approve it, and that each of you has received independent legal advice on the agreement. This was the first time that marriage contracts had been recognized as enforceable under British divorce law. It is impossible to fully predict how a judge can decide on a financial transaction, so concluding a marriage is a good way to avoid uncertainty. Anyone with personal wealth should receive a marriage contract. A marital agreement could also be recommended for those who have children from a previous marriage. A marital agreement will clarify the financial rights and responsibilities of each party during the marriage and distribute the assets equitably in the event of the disintegration of the marriage. Cheaper services might be perfect for some couples, but a marriage deal can be an incredibly sensitive, time-delayed deal, so a quick ”anticipated” cost service may not be appropriate.