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Pre-nups: Common Misconceptions and Advantages

A common misconception amongst engaged couples is, that pre-nups are distasteful and that you are effectively planning for failure.

However, entering into a pre nuptial agreement provides protection to pre marriage assets, inheritance and existing family commitments, including your children. Life can be unpredictable, and although in an ideal world every marriage would last forever, sadly it this is not the case.

The statistics speak for themselves; around 50% of marriages now end in divorce.

While pre nuptial agreements are common amongst celebrities, increasingly we are seeing a rising number of clients who seek advice in this area, as it provides a degree of certainty to your future. Legally, once you are married all of your assets become matrimonial assets, and are placed together as one, unless specifically protected by a pre nuptial agreement.

So what is a prenuptial agreement?
It is a document between you and your partner prior to your marriage that will set out your rights to any property, debts, income and other assets purchased both individually and separately.  Post nuptial agreements are also available for married couples looking to secure their future after their wedding ceremony.

Common reasons many couples seek our advice on pre nuptial agreements before their marriage include:

  • Protecting specific assets such as a property that holds sentimental value to the individual and family.
  • Wanting to limit any potential claims on settlements from previous marriages.
  • Couples looking to avoid any lengthy court battles over who receives what, should things not go well.
  • Widowers who are thinking of marrying again, and are looking to protect their assets.
  • A significant difference between incomes or capital.

How would I get a prenuptial agreement?
Before proceeding with your agreement and to ensure that the agreement is fair between you and your partner,  you will both need to seek independent legal advice from separate solicitors.

It is advised that you both take advice early on to allow you time to make decisions relating to your agreement under the best circumstances.

With enough time you can think carefully about the terms, and make the agreement precise to match your individual needs. This will avoid any complications further down the line, and will allow you to ensure that you both fully recognise the nature and implications of your agreement.

Here at Crisp and Co solicitors we understand that no two relationships are the same, post or pre nuptial agreements may suit you as individuals, or they may not. Regardless of this, as with all the advice we provide, we offer a bespoke service that suits your individual needs, and one that will secure the best outcome for you and your family. If you would like to discuss your options relating to post or pre nuptial agreement, contact us on 0203 857 9885 or visit our website for more information on pre-nups

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