Question
– do you want to have peace of mind about what will happen to your property if
you die or separate from your partner?
If you answered “yes” then yes you definitely need a pre-nup agreement.
Clients often tell me “but my partner and I have talked it all through and we’ve sorted everything ourselves … we trust each other!” That may be so, but if it’s not recorded in writing and signed off by two independent lawyers (in compliance with section 21F Property (Relationships) Act 1976 requirements, making it legally binding and enforceable then you could find whatever agreements you may (or may not) have reached during your pillow talk discussions, may not result in your intentions actually coming to fruition.
If you’re in a blended family situation (i.e. 2nd or 3rd time around relationship), with step children involved too, then that’s even more reason for you to have a chat with your solicitor to ensure each of your respective assets/liabilities will be dealt with, as you intended.
There’s no time limit to enter into a contracting out agreement, ideally, however, it should be prepared and signed as soon as possible, preferably prior to your relationship qualifying under the provision of the Property (Relationships) Act 1976.
Once negotiations are underway and concluded the cost of having a formal agreement drawn up, will likely pale in comparison to the potential loss of asset pool needing to be protected, not to mention loss of sleep and anxiety along the way if you don’t have such an Agreement in place, thereby giving you peace of mind.