Should You Make A Diy Prenuptial Agreement In The Uk ?

There is nothing to stop a couple who are planning to marry making a UK Prenuptial Agreement themselves

. Even though a Prenuptial Agreement (also known as a Prenuptial Contract or Prenup) is a very important contract drawn up to ensure that each of the party's assets are protected up should they divorce, there is absolutely no obligation for them to seek the advice of solicitor.

In fact, should the pair surf the internet they will find companies who can provide documentation so that they can draw up a do-it-yourself prenuptial contract. So should you even consider making a DIY prenuptial agreement?

The bet thing about drawing up a DIY prenup is that you won't have to pay for a solicitor. Admittedly, solicitors are expensive. But they are highly trained individuals who are experts in their field. If you draw up your Prenuptial Agreement without consulting a lawyer, are you sure you're including everything you need to? Would you realise that both you and your spouse-to-be must disclose all assets you currently own? Would you know that the agreement must be drawn up no later than 21 days before marriage to spare yourselves facing at a later date the accusation that it was made while one of you was under duress? And, if you hadn't read this article, would you know that if your marriage doesn't last long, the court is probably going to reject your Prenuptial Agreement?

Getting a competent solicitor to draw up your Prenuptial Contract could make a large amount of difference in the future when it comes to a UK court deciding whether they will accept the agreement or not. That is compounded by the fact that the UK Prenuptial Agreement has no legal status here, though following a case during 2010 they are likely to be considered by the courts. The legal uncertainty over the UK Prenuptial Agreement means that it needs to be watertight if you are to be sure of a court accepting it. So it is only sensible to consult a solicitor when you are drawing it up.

No-one preparing for marriage ever envisages divorce. But a prenuptial contract is a sign that sadly, people do get divorced, and can then end up losing a significant part of what they own. The money saved by not using a solicitor will be a significant sum if the agreement is thrown out and a large portion of your assets have to be surrendered to your former spouse. So is it a good idea to make a DIY Prenuptial Agreement? The answer is "no".

by: Tim Bishop

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