A Prenuptial Agreement (also referred to as a Premarital Agreement or "Prenup") is a formal written agreement entered into by a couple before marriage. It's purpose is to record the parties' intentions as to the division of assets in the event that the marriage breaks down.
This prenuptial agreement template is suitable where either one party owns the home or both parties own the home as "tenants in common". It states that all property owned by each party prior to the agreement shall remain the property of that party in the event of separation and sets out what should happen to property acquired jointly after the date of the agreement.
The courts are not obliged to enforce such agreements although they now seem to be moving towards acceptance of them. Where the terms of the agreement seem to favour one party rather than the other, it is important for both parties to obtain independent legal advice to avoid a claim by one party that he/she was forced to sign it accepting unfair terms.
This straightforward prenuptial agreement form states that all property owned by each party prior to the marriage shall remain the property of that party in the event of separation or divorce and sets out what should happen to property acquired during the marriage. It states that neither party shall make any financial claim upon the other in the event of separation or divorce.
It is recommended that the prenuptial agreement template should be signed not less than 21 days before the day of the marriage or it may be shown that the agreement was signed under pressure.
This Prenuptial Agreement is suitable for use in England and Wales or Scotland. Comprehensive guidance notes provided. The agreement includes the following clauses:
- provision on dissolution
- schedule of means and circumstances of each party
- schedule of property owned by each party.