Prenuptial Agreements 

With celebrity couples such as Brooklyn Beckham and Nicola Peltz signing prenups before marrying, Google searches for “what is a prenup?” have risen by 456%.

Prenuptial Agreements are not just for the wealthy celebrity couples, they are the most practical and useful way to protect your financial future. They are essentially an agreement made between a couple before marriage which sets out how both parties wish for their assets to be divided in the event of a marriage breakdown. Prenuptial Agreements can be a useful took to ensure financial security and avoid complicated litigation to resolve conflict in relation to financial disputes upon the breakdown of a marriage.

What is a Prenuptial Agreement? 

A Prenuptial Agreement is a written contract entered into by a couple prior to marriage to set out what will happen to the parties’ respective assets should the marriage break down. 

What is a Postnuptial Agreement? 

A postnuptial agreement is relevant for people who are already married but they seek to protect their assets. They can also be used when a couple have previously entered into a prenuptial agreement before marriage and seek to confirm the terms. 

Are Prenuptial Agreements legally binding in Northern Ireland? 

Prenuptial agreements are not legally binding in this jurisdiction, however they do carry more weight in court, and ever increasingly so, since the judgement in the Supreme Court case of Radmacher v Granatino in 2010, in which it was decided that where such agreements are entered in to by each party with a full knowledge of the implications and full disclosure of the assets at stake, the Court will hold the parties to the terms of such an agreement, unless it would be obviously unfair to do so. 

What are the benefits of having a Pre/Post Nuptial Agreement in place? 

These types of agreements are the best way to protect assets and indeed business partners. They offer clarity and certainty to couples from the outset because the division of assets has already been agreed thereby reducing acrimony in divorce. In turn, this can save money in legal costs. They are particularly advisable for those individuals who to the marriage inheritances or family businesses or entering into a second marriage. 

What should my partner and I include in our Prenuptial Agreement? 

• Property held in your sole name and joint names 
• Savings 
• Pensions 
• Income 
• Business interests 
• Inheritance 
• Investments 
• Property 
• Debts 

 Are there any items that should not be included in a Prenuptial Agreement? 

These agreements tend to cover a wide range of issues but some issues that should not be included are non-financial rules, anything illegal or any unfair or unreasonable terms or indeed divorce incentives. 

What makes a Pre/Postnuptial Agreement invalid? 

A Prenuptial or Postnuptial Agreement can be deemed invalid if either party has not had the benefit of legal advice or if the parties’ have not disclosed one another’s assets to each other. It is important that each party is acting of their own free will and they are not being pressurised.  Agreements can also be deemed invalid if they include unreasonable or unfair terms that perhaps do not meet the needs of the other party. 

At John Boston & Company we provide advice on all aspects of family law and assistance to clients on all aspects of pre-nuptial agreements. For further information, contact our matrimonial solicitor, Kathryn Mullan 028 90 280 460 or email kathryn@john-boston.co.uk.