DO YOU NEED A PRENUP?

They can be beneficial for individuals with significant assets, those entering a second marriage, or anyone wanting to clarify financial matters, explains CAMILLA FOSTER

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THRASHING out a prenuptial agreement may not be the most romantic part of wedding planning - but it can be one of the most practical.

With many couples entering marriage with property, businesses, or children from previous relationships, prenups are becoming increasingly common.

But where do you even begin? Amy Harris, legal director of the family team at independent law firm Brabners, explains what a prenup is, what it involves and how to approach the conversation, so you can decide whether it’s the right step for you.

What actually is a prenup?

“A prenup is a legal agreement that’s signed by a couple before they get married or enter a civil partnership,” explains Amy. “These agreements are bespoke documents, so they can be different for every couple. However, typically they will outline what will happen to a couple’s assets and finances if that relationship ends.”

While prenups are bespoke, they must adhere to certain legal requirements to be considered valid. For example, in the UK both parties must enter into it freely, without any pressure or duress from the other party.

“There should also be full financial disclosure, so that both parties are entering into the agreement with full knowledge as to what the other person has,” adds Amy.

“In addition, both parties should get independent legal advice. It’s really important that anybody entering into a prenup understands what it says and the implications of it for them as well.”

Should everyone get a prenup?