What is a prenuptial agreement? Also known as a prenup, is an agreement between two people where the husband and wife make a legal arrangement for the future before they are married. It is the signed promise that states that in the event of divorce, neither party will pursue the other with divorce claims or demands for assets obtained prior to the marriage unless it is agreed upon in the written form. These types of agreements were used more than just as a matter of law during times of marriage; many couples used them as a way to ensure their children’s future. It is now commonplace to draw up a prenuptial agreement.
A prenup agreement is a legally binding contract that is made when a couple enter into matrimony by agreeing to marry or civil union. It is a legal document made between the two parties. Because of this, a prenuptial agreement is only legally binding if both parties to the agreement have actually read the terms contained within it and have fully understood them. This means that if you are considering signing any type of contract relating to your relationship with your spouse, you should seek the advice of a family law solicitor before doing so. For Family Law Gloucester, go to Dee and Griffin
As previously mentioned, prenuptial agreements are designed as a way for people to protect their assets in the event of divorce proceedings. In addition to protecting your assets, prenuptial agreements can also prevent your spouse from taking out loans against your assets in the future. If you believe that you may need to protect your assets in the future, the signing of a prenup agreement is often a good idea.