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Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34271
Experience:  I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
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Can you give me some information on prenuptial agreements &

Resolved Question:

Can you give me some information on prenuptial agreements & their legitimacy over the long term?
Submitted: 1 year ago.
Category: Family Law
Expert:  Clare replied 1 year ago.

Thank you for your question

My name is Clare

I shall do my best to help you but I need some further information first

What is the background to the question please?

Customer: replied 1 year ago.
Hello Clare,My fiancee & I have been together for around 15 years, we have 4 children & we are due to get married next year. I'm sure we'll live happy ever after, but then everyone says that.Our situation is that she entered into the relationship with just a suitcase & student debts, & I had my own flat with a fair amount of equity & some cash. Since that time I have purchased a lot more property plus upgraded my property in which we both live. I have also received a number of financial gifts from other family members. I now seem to be worth a fair amount but even though everything is in my name, when we marry next year she will have a claim over all of it should we split. Coupled with the fact that if we do she will want the kids & would give up work to look after them even though we both work part time to care for them equally that would mean having to provide a home, car & expenses to live even if it were not me that caused a split.Firstly, is it worth having an agreement such as this & will it stand the length to time or is it just a short term thing before it is rendered obsolete.
Secondly, if it is worth doing the fees quoted for this service seem excessive for something I hope will not be needed? Obviously it would be properly explained to her by an independent solicitor what it meant which I would pay for, but it may help any future dispute if in the back of her mind she knew she couldn't take me to the cleaners.
Thirdly, it is automatic that she would get the children even though I can work flexibly so she could carry on working too?Steve
Expert:  Clare replied 1 year ago.

How old are the children and what provision will you actually make in the agreement?

Customer: replied 1 year ago.
9,7,6 & 2. Their standard of living shouldn't change at all.Speaking of which I have to go & do the school pick up. Can we pick this up later, please?
Expert:  Clare replied 1 year ago.

Sorry - i meant what permanent provision will you make for your partner if your relationship ends after so many yaers

Customer: replied 1 year ago.
That is what I am unsure about. She has a good, long career ahead of her so I am fine to support the children but would not wish to support her any more than necessary & end up on someone's couch while she keeps the house, car, etc...
Expert:  Clare replied 1 year ago.

What is the overall net value of your current assets?

Customer: replied 1 year ago.
Approximately £3m.But to put it in a little perspective, I only earn an average-ish wage so when solicitor's start quoting £5k in fees to set one up when both of us have every intention of staying together seems a bit much!
Expert:  Clare replied 1 year ago.

With those assets as a minimum she will get a property from the family court suitable for herself and the children - even if the children share their time equally between you and she works.

You can and should get other quotes - but the price reflects the assets that you have - and the cost to the firm if the Agreement fails and you claim compensation

Whilst historically they were not accepted by English courts that has changed over the years and provided it is properly drafted and make reasonable provision for the other party, who is separately advised and the agreement is signed at least 28 days prior to the marriage after full financial disclosure then it is likely to be upheld by the court.

So any agreement that you create must include housing for your partner

I hope that this is of assistance - please ask if you need further details

Customer: replied 1 year ago.
Where would it be judged what is a reasonable cost for housing. Obviously, the cost of one house to another can vary greatly so how would it be agreed fairly if she claims a house for say £2m & I'd only want a more modest semi-' for them?What happens as the children reach the age where they would start to leave home? What happens once all the children have gone & the two of us split then?
Expert:  Clare replied 1 year ago.

It has to be a reasonable comparison to your housing - and she will keep it

Customer: replied 1 year ago.
What is my current situation if we split up now, for example? Does a marriage at this stage of our relationship change that much legally?
Expert:  Clare replied 1 year ago.

Yes it does - at present any property will revert to you when the youngest is 18

Customer: replied 1 year ago.
Can you recommend either a solicitor that can draw up an agreement for a reasonable fee or point me in the direction of the best place to source one, please?
Expert:  Clare replied 1 year ago.

If you want it to stick go to one of the larger firms such as

http://www.mills-reeve.com/

Clare and other Family Law Specialists are ready to help you
Customer: replied 1 year ago.
Ok, that's great.If I think of anything else can I come back to you after I rated you?Steve