Prenuptial agreements are not currently automatically enforceable contracts in England and Wales. The Family Court retains discretion over the financial arrangements made following divorce.

However, the Supreme Court established in Radmacher v Granatino that appropriate weight should be given to nuptial agreements where the parties entered into them freely, understood their implications and it would be fair to hold them to what they agreed.

How the agreement was prepared is therefore important. Allowing sufficient time, exchanging appropriate financial information and obtaining independent legal advice can all help demonstrate that the agreement was entered into properly.

It is sensible to begin the process as early as possible and well before your wedding date.

The agreement may require financial disclosure, legal advice for both parties and negotiation of its terms. Starting early provides sufficient time for these discussions and reduces the risk of either person feeling under pressure to sign shortly before the wedding.

If your wedding is approaching and an agreement has not yet been completed, you should still obtain advice. Depending on the circumstances, it may be appropriate to consider completing a postnuptial agreement after the marriage.

Each person should obtain independent legal advice.

Although one solicitor may prepare the initial draft on behalf of their client, they cannot independently advise the other party on whether the agreement is in their interests. Separate advice allows both individuals to understand the proposed terms, their potential consequences and whether any changes should be negotiated.

Independent advice can also be important if the agreement is later considered by the court when financial arrangements are being determined.

A nuptial agreement can record the parties’ intentions about how business interests, inherited assets and other property should be treated if the marriage ends.

For example, it may state that shares owned before the marriage, an interest in a family business or a particular inheritance are intended to remain with one party. This can be especially useful where other family members, shareholders or future generations have an interest in preserving those assets.

However, an agreement cannot completely remove the Family Court’s ability to consider the parties’ circumstances and financial needs following divorce. The court has broad powers when deciding financial arrangements, so the agreement should be drafted carefully and reviewed if circumstances materially change.

Yes. Couples can review and revise their arrangements by agreement, including through a new or updated postnuptial agreement.

A review may be sensible following significant life changes such as the birth of children, a substantial inheritance, major business growth, a move overseas or a significant change in income or health. An agreement which no longer reflects the parties’ circumstances may carry less weight if its terms have become unfair.

Periodic reviews can therefore help ensure that the agreement continues to reflect what both parties intend and remains appropriate as their lives and finances develop.