Prenuptial agreements are a way for two people to agree before they get married or enter a civil partnership what will happen if they get divorced. The bulk of the agreement will set out who will own houses, cars, businesses and other assets owned by either party if the marriage ends in divorce.
This makes 'prenup agreements' popular with the very wealthy, but with such a high divorce rate, they are increasingly used by people on low or moderate incomes. As many as 1 in 3 marriages end in divorce so many people find that a prenuptial (or 'prenuptual' as it is commonly mis-spelt) gives them peace of mind before getting married.
Although commonplace and regularly enforced in other parts of the world, the Courts in the UK reserve the right not to apply certain parts the agreeement. Indeed, until relatively recently, prenups were not worth the paper they were written on. However, in a recent case Radmacher (formerly Grantino) v Grantino, also known as NG v KR (prenuptial contract), the Court of Appeal said the judges should treat pre-nuptial agreements as the decisive element and called for legislation to reform the law so that any agreement should form the basis of any award.
So whilst prenups are technically not enforcable, they are very persuave on the Courts. Whether or not the terms of the agreement are accepted by a divorce court very much depends on the individual agreement. If they are reasonable terms, and not extremely unfair to either party, it is likely that the terms of the agreement will be reflect the outcome. It is useful to have a lawyer help you draft the terms to ensure the best possible interpretation by the Courts.