WeNup. Online Prenup and Postnups made easy.
Both parties come to the table with full disclosure of their assets. It can be daunting for some, but it also creates vulnerability and transparency. It is a place where couples get to voice their needs, ideals and concerns about the future.
With money being one of the main reasons for divorce, how transparent are you with your partner about finances and the future?
James and his wife decided it was a sensible idea to have a prenup. They were both open with their communication about money and had witnessed difficult divorces, making a prenup an obvious choice. The experience was relatively positive and they were both comfortable with the process.
With that in mind, James being an entrepreneur knew that the process could be made more accessible, affordable, and digital. The digital aspect allows couples to collaborate easily, and through the WeNup platform, have access to family lawyers.
What is a prenuptial and a postnuptial agreement?
A prenuptial agreement is made by a couple prior to marriage or civil partnership. It sets out the division of assets should they divorce or dissolve the partnership. A postnuptial agreement is the same, but written post-marriage or after entering a civil partnership.
Traditionally, a prenup was designed to protect the wealthier party or someone coming from a wealthy family. James believes this is no longer the case. With couples marrying later than previous generations, they now come to the marriage with their own assets and income.
Couples are no longer starting their married life together with nothing.
For a pre/postnup to hold strong legal weight, some conditions need to be upheld:
1. Voluntary Agreement. Both parties must enter the agreement freely and without any pressure, coercion, or undue influence.
2. Independent Legal Advice. Each party must receive independent legal advice about the agreement to ensure they fully understand its implications and terms.
3. Full Financial Disclosure. Both parties must provide a complete and honest disclosure of their financial circumstances, including assets, income, and liabilities
4. Fairness. The agreement must be fair to both parties at the time it is entered into and when it is enforced. It should not leave one party in a position of serious financial hardship.
5. Timing. The prenup should be signed well in advance of the wedding to avoid claims of pressure or duress. A minimum of 28 days before the wedding is recommended.
6. No Fraud or Misrepresentation. The agreement must not involve fraud, misrepresentation, or omission of material facts.
7. Compliance with Legal Formalities. The agreement should be in writing, signed by both parties, and witnessed.
8. Consistency with the Matrimonial Causes Act 1973. The court will consider the provisions of the Matrimonial Causes Act 1973, especially regarding fairness to both parties and any children of the marriage.
9. Review Clause (Optional but Recommended).Including a clause to review the agreement after a significant life event (e.g., birth of a child, significant change in financial circumstances) can demonstrate fairness.
10. Consideration of Children. The needs of any existing or future children must be prioritised. The court will disregard a prenup if it fails to meet the needs of the children of the marriage.
The Process
Both parties come to the table with full disclosure of their assets. It can be daunting for some, but it also creates vulnerability and transparency. It is a place where couples get to voice their needs, ideals and concerns about the future. The lawyers will assist with the negotiations, and by collaborating in this way, both parties should believe their document to be fair.
This document is designed to protect both parties from their future selves should the marriage end badly. It's an opportunity to sign from a position of love rather than resentment. Many WeNup clients have shared that the process has benefited their relationship and brought them closer together.
Not to be filed and forgotten.
This is a working document. Meaning? That it shouldn't be filed away and forgotten about. As circumstances change, it needs to be updated. Children, inherited money, selling a company, health issues, etc. WeNup can help you update your agreement.
Who are your clients?
At present their client are mainly childless couples in their 20s and 30s, professionals, and same-sex couples. They share the goal of protecting their finances, especially should the marriage dissolve without dependents. Another demographic is people who have experienced divorce and want to protect their assets and potential inheritance for their adult children. They already know the pain factor of divorcing without a prenup.
James is an entrepreneur, NOT a Lawyer. Nothing we discuss is legal advice. WeNup is only for clients in England & Wales. Whilst a prenup is not legally binding in England and Wales, they do carry strong legal weight and are persuasive.
Every country and State has its own laws with regard to prenups, as always, seek legal advice relative to where you are living.
WeNup was designed to be affordable. At the time of writing this, the cost starts at £1380 per couple/£690 per person.
IG: @wenupuk
If you would like to share your story or you are a professional who wants to share some insights, please email me at contact@angryexwife.com