Pre-nuptial Agreements

Pre-nuptial agreements allow people to ring-fence part of their wealth at the outset of a marriage.

They are enforceable in a great number of countries but they have never been legally binding in England and Wales. This landmark ruling by the Supreme Court means that if the parties enter into a "pre-nup" freely, are fully informed of all the relevant financial and other information, and the implications of the agreement, then the courts will uphold the pre-nup.

In effect, they are now binding unless they are unfair.

Pre-nups are not just for the rich. People entering second marriages, who want to protect their wealth for their children should the marriage fail, will find it much easier to do so.

"Pre-nups are like a form of fire insurance - it's much better to take them out before the fire"

The ruling has been hailed as a judgement for a modern society, especially for those with long standing family assets that they wish to protect for future generations, but there are some who believe it will significantly damage the financially weaker party in divorce. If that party, normally the wife, is held to the terms of a pre-nup they may be deprived of a considerable chunk of the couple's wealth. McKinnells can help you to understand whether this is the right course of action or whether some other form of agreement is advisable prior to marriage.

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