A prenuptial agreement is a written agreement made by a couple who intend to get married, which sets out what should happen to their finances in the event of the breakdown of the marriage. A prenuptial agreement is also known as a premarital agreement.
Despite growing arguments for the recognition of prenuptial agreements they are not enforceable by the courts. However, the existence of a prenuptial agreement is one of the factors which could be taken into account by the courts. As a result an increasing number of couples are entering into prenuptial agreements to minimise disagreements if they separate and to exclude assets which may be considered by the courts, for example inherited property.
The Court will only place weight to prenuptial agreements if both parties have received independent legal advice and provided disclosure of their finances.
