Prenuptial Agreement Uk 2019

Thank you for reading this post, don't forget to subscribe!

When it comes to prenuptial agreements (often referred to as prenups), the legal landscape in the UK has undergone some significant changes in recent years. In 2010, the Supreme Court case of Radmacher v Granatino established that prenups could be legally binding, as long as they were entered into voluntarily, with both parties having a full understanding of the implications. However, until fairly recently, prenups were still relatively uncommon in the UK, with many people assuming that they were only for the ultra-wealthy.

In 2018, however, the Law Commission published a report which recommended changes to the law on prenups, with the aim of making them more accessible to a wider range of people. The report suggested that prenups should be legally binding, subject to certain safeguards, such as ensuring that both parties had access to legal advice and were fully aware of the implications of the agreement. This recommendation was based on the idea that prenups can provide clarity and certainty for couples entering into marriage or a civil partnership, particularly in terms of financial matters.

Following the publication of the Law Commission report, the government announced that it was considering legislative changes to make prenups legally binding, and in June 2019, a draft bill was published which would give legal force to prenuptial agreements. The bill includes a number of safeguards to ensure that both parties understand the implications of the agreement, and that they are entering into it voluntarily. For example, both parties must have received legal advice independently of each other, and the agreement must be signed at least 28 days before the wedding or civil partnership.

The proposed changes have been welcomed by many family law experts, who believe that prenups can play an important role in protecting individuals` financial interests, particularly in situations where there is a significant imbalance of wealth or assets between the parties. However, there are also concerns that the changes could result in more litigation and disputes in the event of a divorce or dissolution, if one party feels that the prenup was unfairly imposed or that they were not given adequate legal advice.

For anyone considering a prenuptial agreement, it is important to seek independent legal advice and to ensure that both parties have a full understanding of the implications of the agreement. The proposed changes to the law could make prenups more accessible and widely used, but it is still important to approach them with care and caution. Ultimately, a prenup can provide peace of mind and clarity for couples entering into marriage or a civil partnership, but it is not a substitute for communication, trust and mutual respect.