While the new royal couple Prince Harry and Meghan Markle captured the nation’s hearts with their fairytale wedding, their decision not to have any form of financial prenuptial agreement came as a big surprise for those of us without blue blood running through our veins.
Harry and Meghan can most likely rest assured that if their marriage does encounter difficulties in later years, it is not too late to make a postnuptial agreement to protect the crown jewels.
So, should other couples adopt the same policy?
It is never too late at any time during a marriage to consider some protection in the form of a postnuptial agreement in place.
“The discovery of an affair, concern about an expected inheritance being squandered, pressure from family to ringfence their contribution to get onto the property ladder or from associates to protect your business interests are all possible reasons you might consider making a postnuptial agreement,” says Helen.
Postnuptial agreements are very similar to prenuptial agreements in that they enable couples to decide in advance of a problem arising how their affairs should be dealt with if they decide to divorce or dissolve their civil partnership.
The only real difference between a prenup and a postnup is that the former is prepared before a marriage or civil partnership takes place while the latter is agreed afterwards.
If the marriage does not work then a postnuptial agreement can have persuasive value when it comes to finalising arrangements on divorce, particularly where the agreement can be shown to have been freely agreed to and where the provisions made are fair.
The contents of this article are for the purposes of general awareness only. They do not purport to constitute legal or professional advice. The law may have changed since this article was published. Readers should not act on the basis of the information included and should take appropriate professional advice upon their own particular circumstances.