How You Should Make a Prenuptial Contract - By: Tim Bishop

A prenuptial agreement is a legal contract drawn up between two parties in advance of their marriage. Its main purpose is to dictate the division of personal assets between the two parties

It is also in a couple's best interest to use the services of a solicitor when drawing up the agreement. This is particularly important as UK courts, under current law, do not have to take a prenup consideration when deciding how to divide up assets following a divorce. Prenuptial agreements can also be quite complicated, so seeking legal advice when drawing one up will assist greatly

When you are thinking about how to put a prenuptial agreement together, the following should be included.

- The couple should disclose details of all their assets to each other when making the prenup. If they fail to do this the courts may refuse to consider the agreement should a divorce case ever ensues.

- The prenup must be drawn up no later then 21 days before the wedding. If this is completed at a later date, it could be argued that one of the two parties made the agreement under duress.

- Make sure that all the provision of the agreement are written down and included in the prenup. This is vital if there ever is a divorce and the agreement has to be presented to a court.

The build up to a wedding is a period of romance and any thoughts of divorce will not even cross a couples mind. However, we have to face reality. With one in two marriages in modern Britain ending in divorce, it is wise to prepare for the worst. This should be obvious to those who have previously been divorced, but for those contemplating marriage for the first time, they should still give serious consideration to making a prenup.

A prenuptial contract is particularly important for someone rich in assets entering into marriage. It will help them keep them should the marriage end. Without the prenup he or she could lose at least half of them. Also those assets acquired during the marriage may also be protected by a prenup, provided this is stipulated in the original agreement.

Making a prenuptial contract is a sensible precaution should the marriage turn sour and end in divorce. With these agreements still having no legal standing in the United Kingdom, it is absolutely essential they stand up to scrutiny when being looked at by a court. This should be discussed when considering how to make a prenuptial contract.

About the Author

Tim Bishop is senior partner at Bonallack & Bishop, a firm of specialist prenuptial contract solicitors experienced in drafting your pre nuptial contracts . He is responsible for all major strategic decisions, seeing himself as a businessman who owns a law firm. Tim has expanded the firm by 1000% in 12 years and has plans for its continued development.

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