A prenuptial agreement – commonly referred to as a prenup – is a legal agreement between two parties who intend to get married. This agreement outlines the division of assets and liabilities that may arise in the event of a divorce. In the UK, prenups are not legally binding, but they are taken into consideration by the court as long as they are deemed fair and reasonable.
Here is a sample prenuptial agreement in the UK:
PARTIES
This agreement is made on [date] between [Name], of [Address], hereafter referred to as “Party A,” and [Name], of [Address], hereafter referred to as “Party B.”
BACKGROUND
Party A and Party B intend to get married on [date]. Both parties acknowledge that they have assets and liabilities that they wish to protect and preserve in case of separation, divorce, or other dissolution of marriage.
TERMS
1. Disclosure of Assets and Liabilities
Both parties agree to make full and accurate disclosure of all their assets and liabilities, whether held jointly or individually. Any undisclosed assets or liabilities will be considered fraudulent and may be grounds for voiding the agreement.
2. Ownership of Property
Each party affirms that they currently own their respective assets and liabilities and intends to maintain their separate ownership after the marriage.
3. Property Acquired During Marriage
In the event of separation or divorce, any property acquired by either party during the marriage shall be considered marital property and shall be divided equally or as agreed upon in writing by both parties.
4. Spousal Support
Both parties waive any claim to spousal support or maintenance.
5. Legal Representation
Both parties acknowledge that they have had the opportunity to consult with independent legal counsel and have done so before signing this agreement.
6. Amendments
This agreement may only be amended in writing by both parties.
7. Governing Law
This agreement shall be governed by the laws of England and Wales.
IN WITNESS WHEREOF, the parties have executed this agreement on the date first above written.
Party A: [Name] Party B: [Name]
Signature: ___________________________ Signature: ___________________________
Date: _______________________________ Date: _______________________________
In conclusion, a prenuptial agreement can provide a level of security and peace of mind to those getting married. While it`s not legally binding in the UK, a properly drafted agreement can be taken into consideration by the court. It`s recommended that both parties consult with independent legal counsel before signing any agreement and that all terms are fair and reasonable.
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