Prenups becoming increasingly important

Prenuptial agreements are an increasingly important consideration for couples planning to marry, according to the independent financial advisory firm Consilium Financial Planning.

A prenuptial agreement is a contract signed by couples about to wed or enter into a civil partnership. It gives details of how assets will be divided and how custody of any children will be awarded in the event of a divorce.

Kevin Morgan, managing director of Consilium Financial Planning independent, acknowledged that at present the documents are not legally binding.

However, he added: "The courts are taking the content of such agreements into account when determining the basis of their judgements."

And he said that today they are becoming more important in terms of pre-marital planning, for both husbands and wives and same sex couples.

Meanwhile, the Law Commission is examining proposals to give pre-nuptial agreement legal status in the courts. It intends to draw up a draft bill on the documents by 2012.

Published on: July 24, 2008

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