Prenuptial agreements: DIY or Solicitor?

edited 30 November -1 at 1:00AM in Marriage, Relationships & Families
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carm_2carm_2 Forumite
8 Posts
edited 30 November -1 at 1:00AM in Marriage, Relationships & Families
I'm completely new on the site and hope that I'm following the forum rules...

My fiancee and I are looking to get married in 2014. We don't have a lot but I have a property in my name that I purchased before I met him, and which my parents largely paid for to help me get onto the property ladder.

It's their money that they want to protect, and we're all completely fine with it.

I really can't afford the solicitor's fee to draw up a prenup, and was thinking of going for a DIY one instead since they're not legally binding anyway.

I was wondering if anyone has any advice for me or any experience?

Thanks in advance!
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Replies

  • SystemSystem Forumite
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    If they are that worried then they could take a charge on the house to safeguard their money.
  • carm_2carm_2 Forumite
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    !!!!!! wrote: »
    If they are that worried then they could take a charge on the house to safeguard their money.

    Sorry !!!!!!, I have no idea what that means, could you please explain it to me?

    If it helps, the property is owned by both me and my mum outright.
  • carm_2carm_2 Forumite
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    Thanks for the link jim, do the DIY packs still work the same as the ones drawn up by solicitors? He doesn't have any assets whereas I just need to protect mine so I thought it should be relatively simple..
  • cabbagecabbage Forumite
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    Your partner will need legal advice b4 signing. You might as we'll do it properly and enlist the help of a solicitor. If was i was your mum I would pay a solicitor to protect my investment.
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  • mountainofdebtmountainofdebt Forumite
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    I know this is a money saving site but there are some things that you really shouldn't try and do on the cheap.

    If your parents are that concerned about protecting their money then why they would be happy with a DIY pre nup is beyond me.

    All your other half to be would need is a good solicitor and they may find that the paper the DIY pre nup is written on is only good for toilet paper
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  • Prenups currently are not legally binding in the UK - see here: http://www.legal-advice-centre.co.uk/prenuptial-agreements.html
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  • AnniseleAnnisele Forumite
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    OP - you say "I have a property in my name that I purchased before I met him", and you say "the property is owned by both me and my mum outright".

    Is it solely in your name, or in the joint names of you and your mum? If the latter, do you own it as joint tenants or tenants in common?

    If it's in joint names as tenants in common, then you getting married makes no difference at all - your mum's share is hers, and nothing you do will take that off her without her consent. (If you own it as joint tenants, then part of it still belongs to her - but you can construct scenarios where she dies then you divorce, in which her capital would end up in the pot of your marital assets rather than to whoever she'd have wanted to will it to).

    But this really isn't worth doing on the cheap. Some things it's OK to DIY; other things you shouldn't touch unless you're 100% sure you know what you're doing.
  • meritatenmeritaten
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    as pre nuptial agreement are not legal and binding in this country - I would suggest that you find a solicitor who would make your property out of the reach of your OH should you split up.

    I also find it sad that you feel the need to do this. It may well be financially the thing to do - but that you feel the need to protect your property from your future OH - I think its a sad lack of trust.
    If someone I was about to marry did that - I would think twice about marrying them - in fact I wouldnt marry them, I couldnt in all honesty marry someone who didnt trust me 100%.
  • MoneybotMoneybot Forumite
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    Hmm if you are prepared to spend the rest of your life with this person for better or for worse until death us do part why are you thinking about an agreement on what to do with a property when you split up? It will be part of your estate when you die. Look into inheritance tax issues if you must but don't go into a marriage planning on what happens when it fails.
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