Once reserved for celebrity couples and royalty, terms like 'prenup' and 'postnup' have made their way into everyday conversations. But what do they really mean?

What's a Prenup?

A 'prenup', or prenuptial agreement, is a legal document couples can agree to before they get married. It outlines what would happen to their assets and finances if, down the line, they decide to divorce.

And a Postnup?

Similar to a prenup, a postnuptial agreement is made after the marriage has taken place. Maybe circumstances changed, or the couple just never got around to it before the wedding.

Why Consider One?

While not exactly romantic, these agreements can:

• Provide Clarity: It defines what belongs to whom.
• Protect Assets: Especially important if one person enters the marriage with significantly more assets.
• Reduce Conflicts: Should things not work out, having an agreement can make the separation process smoother.

What's Typically Included?

• Properties: Who gets the house or holiday home.
• Savings and Investments: How they're split or kept separate.
• Debts: Ensuring no one's unfairly burdened.

Is it Legally Binding?

In England and Wales, while these agreements are recognised, they aren't strictly binding. However, courts tend to respect them, especially if both parties had independent legal advice before the agreement was signed, were transparent about their assets and the agreement made is fair.

A Few Handy Tips:

• Be Open: Talk about it. It might be awkward, but it's essential for both parties to understand each other's viewpoint.
• Seek Expertise: Consider getting some guidance. Here at JBHS Solicitors, we can help draft an agreement that's fair and transparent.
• Review Over Time: Finances change and assets grow so it important to review the agreement regularly to make sure it still works for you both and if not, change it.

In Conclusion

Prenups and postnups, while they may be unromantic, can offer peace of mind. They're about ensuring both partners are on the same page, safeguarding their futures. If you're considering one, its always best to seek legal advice to ensure everything is covered and to make things simple and straightforward.

Contact our Family Law Solicitors in Rochdale to find out more.