What are you getting for Valentine’s Day from your intended? Flowers? A box of chocolates? A romantic weekend away? A prenuptial agreement?
Pre-nuptial agreements or ‘prenups’ are becoming increasingly popular. They are no longer just for the rich or famous and if you are contemplating getting married you should consider whether or not you need one.
Their increase in popularity has been attributed in part to parents worrying that their contribution to a child’s house deposit may ultimately be taken by an errant partner. In addition more brides and grooms to be, especially those embarking on a second marriage, are now considering how best to protect their hard earned assets.
You may think that a prenuptial agreement is the very opposite of romance. But think of it another way and a prenup is the opportunity for honest communication and the chance to plan for the future when you are in a positive frame of mind. In the event of a divorce, a prenup can be used not only to protect your wealth but to make the divorce process easier for everyone including children.
Signing contracts for business, employment or even mobile phone commitments is just a part of every day life, so why not sign a contract for something as important as marriage? The Courts in England and Wales are obliged to give weight to prenuptial agreements. However, if you are considering a prenup to ensure that your agreement is upheld in Court it is important to have it professionally drafted and ensure that it is honest and fair; you must also both be happy to enter into the contract.
For further advice on prenuptial agreements, divorce or separation or children issues, contact one of our Family Law specialists at an office near you.
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