A DIY UK Prenuptial Agreement - Is It Worth It? - By: Tim Bishop

If you're getting married, and thinking of making a UK Prenuptial Agreement (also called a Prenuptial Contract or Prenup), there's no reason why you can't draw it up yourself. The contract will protect both party's assets should the marriage come to divorce, but despite its importance, you don't have to talk to a solicitor to obtain one.

In fact, should the pair surf the internet they will find companies who can provide documentation so that they can draw up a do-it-yourself prenuptial contract. So should you even consider making a DIY prenuptial agreement?

The bet thing about drawing up a DIY prenup is that you won't have to pay for a solicitor. Admittedly, solicitors are expensive. They are generally people who have been undergone a lot of training and have a high level of expertise in this area. If you draw up your Prenuptial Agreement without consulting a lawyer, are you sure you're including everything you need to? Would you realise that both you and your spouse-to-be must disclose all assets you currently own? Would you know that the agreement must be drawn up no later than 21 days before marriage to spare yourselves facing at a later date the accusation that it was made while one of you was under duress? And unless your solicitor points it out to you, would you know that the court will be likely to reject the Prenuptial Agreement if the marriage is only short-lived?

Getting a competent solicitor to draw up your Prenuptial Contract could make a large amount of difference in the future when it comes to a UK court deciding whether they will accept the agreement or not. That is compounded by the fact that the UK Prenuptial Agreement has no legal status here, though following a case during 2010 they are likely to be considered by the courts. The legal uncertainty over the UK Prenuptial Agreement means that it needs to be watertight if you are to be sure of a court accepting it. So it is only sensible to consult a solicitor when you are drawing it up.

No-one preparing for marriage ever envisages divorce. But a prenuptial contract is a sign that sadly, people do get divorced, and can then end up losing a significant part of what they own. The money saved by not using a solicitor will be a significant sum if the agreement is thrown out and a large portion of your assets have to be surrendered to your former spouse. So is it a good idea to make a DIY Prenuptial Agreement? The answer is "no".

About the Author

Thinking of making a UK Prenuptial Agreement? Contact Bonallack & Bishop - solicitors who are prenuptial contract specialists. Tim Bishop is senior partner at the firm, responsible for all major strategic decisions. He has grown the firm by 1000% in 13 years and has plans for further expansion.

Article Directory Source: http://www.articlerich.com/profile/Tim-Bishop/62652

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