A prenuptial is a contract between two people about to marry that spells out how assets will be distributed in the event of divorce or death. It usually lists the assets and debts of both parties, and also states what each person's property rights will be after the marriage ends, either through divorce or death.
If a couple divorces, a prenup helps a lot in dividing the assets smoothly between the two. A pre-nup allows the couple to spell out what they expect from each other financially, and creates a more harmonious union with fewer conflicts, now and in the future.
Pre-nups are not binding in the UK although judges can take them into account during divorce proceedings - as seen here Should you Bother with a Pre-nup?
BUT... The Law Commission is to consider plans to bring the legal system in England and Wales in line with other countries. It will look at whether pre-nups should be upheld by the courts and under what circumstances.
Judith Middleton, partner at Latimer Hinks welcomes the plans and look sforward to less acrimonious divorces in the future - Darlington Lawyer Welcomes Move to Make Pre-nups Legal
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