Pre and post nuptial agreements are agreements made between a couple either before or after marriage which set out how they wish their financial affairs to be dealt with if the marriage breaks down.
Most often, they are used to ringfence assets acquired before the marriage or to protect assets which may be inherited during the marriage. The agreement will set out how those assets should be treated if the relationship breaks down. They may be a sensible consideration if one person is entering into the marriage with significantly more assets than the other. These agreements can also seek to ringfence shares in a family business to keep the business within the original family.
Whilst a conversation about the end of a marriage before it has really started may be difficult, agreements of this sort are increasingly common and many couples see them as a sensible planning exercise to avoid the uncertainty and significant legal costs which can follow on divorce.
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