"Should I Get a Prenup?" Quiz

Wondering if you need to sign a prenup before getting married? Take our “Should I Get a Prenup?” Quiz to find out…

A prenuptial agreement is an agreement that is entered into at least 28 days before a marriage to agree on the terms and conditions in the event of a divorce or separation. The agreement will pertain to all manner of assets, such as property, savings, business interest, and pets, and can include child arrangements.

For those entering into a civil partnership, this is otherwise known as a pre civil partnership agreement.

Contrary to popular belief, you don’t need to be a celebrity or have masses of valuable assets to consider a prenup. You might also think it seems unromantic to draw up a contract like this right before saying “I do”.

That said, many people are choosing to sign a prenuptial agreement primarily to make sure that everyone is clear on the terms and conditions from the start of a marriage, helping to define expectations for a divorce and ward off arguments and lengthy divorce disputes.

It also encourages open and honest conversations about financial situations before entering into a legally binding contract that ties your financial status together.

The question is, should you get a prenup? Take this quiz to find out…

Prenups Quiz

The minimum time a prenuptial agreement should be entered into before marriage is 28  days. After this time, you could consider a postnuptial agreement instead.

Alternatively, if you are not married or in a civil partnership, or engaged but live with your partner, you could consider getting a cohabitation agreement to determine financial provisions in the event you split up.

Benefits of a Prenuptial Agreement

Prenups define expectations

Each person knows exactly what to expect in the event of a divorce/dissolution or unfortunate sudden death. This clarity can help both spouses/partners to avoid financial surprises down the road.

Prenups provide protection from future claims

A prenup/pre civil partnership agreement can protect one spouse/partner from being taken advantage of by the other during divorce/dissolution. For example, if one spouse /partner owns a business, it can protect that business from any claims the other spouse/partner might make in the event of a divorce/dissolution.

Prenups can improve estate planning

A prenup/pre civil partnership agreement can also help ensure that each spouse’s/partner’s assets go to the correct heirs after death. For example, blended families can benefit from combining a prenup/pre civil partnership agreement with an estate plan to clarify each spouse’s/civil partner’s wishes regarding their assets after death.

Prenups can ensure an amicable divorce/dissolution

Many couples can avoid arguments about each other’s assets at a time when they are already under stress due to wedding/civil ceremony planning or caring for children.

What’s more, in the event of a divorce/dissolution, a prenup/pre civil partnership agreement can help ensure that the breakdown of the relationship is as clean and smooth as possible, taking up as little time, costing as little money, and causing as little grief as possible for yourself and any children.

Want a Prenup?

If you require a solicitor to help you put together a prenup/pre civil partnership agreement, or review one that has already been drawn up, Crisp & Co can help. Their team of specialist family lawyers will represent your best interests so you can be sure you’re signing a document that you are happy with.

For more information, and to get in touch, call 020 8017 8962 or book a consultation at www.crispandco.com.

Please be advised that you and your partner should seek separate legal counsel to ensure you are both represented by an independent, unbiased party.

Although a prenup/pre civil partnership agreement is recognised as a legal contract in England and Wales, there are caveats to their efficacy, and they are not legally binding. The court are able to veto any agreements made in circumstances where they feel children have been unfairly discriminated against, or the prenup/pre civil partnership agreement appears to have been forced upon a member of the marriage/civil partnership.

Seeking separate counsel will ensure that your individual goals and aims are represented, which can reduce the chances of problems with the prenup/civil partnership arising later down the line.