prenuptial agreement

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Prenuptial Agreement

A legal and binding agreement that a couple enters prior to their marriage. Prenuptial agreements are commonly associated with the division of assets in the event of a divorce later in life, but they may also include other details such as how assets are distributed in the event of the death of a spouse. Prenuptial agreements are somewhat controversial as some see them as providing an expectation of divorce; they are designed, however, to reduce financial uncertainty in a marriage.

prenuptial agreement

A written agreement by a couple who plan to marry in which financial matters, including rights following divorce or the death of one spouse, are detailed.
References in periodicals archive ?
Here are a few tips on how to get it right: DON'T DO IT YOURSELF The internet is full of templates offering quick ways of drawing up a pre-nup without involving lawyers.
We have certainly seen an increase in the number of clients looking to put in place pre-nuptial or pre-partnership agreements, and I think there is no reason why same sex partners won't be considering pre-nups before their marriage or civil partnership.
The pre-nup is also reported to state that their Bel Air mansion will be in Kim's name, even though Kanye is footing a majority of the bill, and she will keep all jewellery and gifts from him.
Pre-nups can also be useful where there are international aspects in a relationship.
Many see a pre-nup as a "get out of jail free" card, as the commitment made in a marriage is supposed to be for life.
After the divorce case of wealthy heiress Katrin Radmacher last October, which saw the Supreme Court back the enforceability of prenuptial agreements, the Law Commission has announced it is carrying out a consultation, with the possibility of making pre-nups legally binding.
However many lawyers have reinforced the point that pre-nups are still not binding in the UK and would only become so if the Government allowed a change in legislation.
With pre-nups on the rise Harvey Nichols has created a free consultation package for the modern woman who has everything and wants to keep it that way.
But I do also get quite depressed when I hear about pre-nups because, although sensible, they're also MASSIVELY unromantic.
However, post-nuptial agreements will probably not become as popular a phenomenon as pre-nups as there are fewer circumstances in which both parties will agree to draw up one - they tend to come when a marriage is already in trouble.
As the wedding season begins, research from Internet bank smile reveals although pre-nups are not currently enforceable in the UK, 46% of Brits would like to see them made legal.
In other words, pre-nups could now be considered to be binding in the UK legal system.