Pre-Nuptial Agreements: Planning for An Equal Future

In an era of caution, with insurance policies available for every eventuality, pre-nuptial agreements before marriage make good, practical sense. Far from being the domain of the rich and famous, pre-nuptial agreements or pre-nups are easily available. James Haworth, Family Partner at Lawson-West Solicitors takes a look at the benefits they offer to marrying couples.

‘Planning for the future is an essential part of a relationship when a couple decide to get married. Although thinking about a pre-nuptial agreement can be off putting at this time of great expectations, it is actually a good way of avoiding arguments later in the day. Think of a pre-nuptial agreement as a way of stating that you want your marriage to be one of fairness and equality.”

Pre-nuptial agreements can be drawn up relatively quickly and inexpensively by a solicitor, and pre-nups offer many benefits including protecting property and possessions intended to pass down through different generations of a family. Pre-nuptial agreements also, importantly, protect the needs of any children.

James continued: “In a marriage between people of different nationalities, pre-nuptial agreements are particularly useful since they can protect assets held in another country. Pre-nuptial agreements also help those entering into a second or subsequent marriage, and make sure both parties have laid out their financial expectations before the wedding. Such clarity acts in everyone’s interests.”

There are many other good reasons to want a pre-nuptial agreement, which sets out how a couple’s assets will be dealt with in the event of divorce or separation. Although not completely binding in English Law, pre-nuptial agreements can be persuasive and have an effect on a divorce settlement. It’s worth noting that pre-nups cannot overrule the law or prevent a judge from deciding something different to what is in the agreement. However, recent high profile cases have shown that the trend is towards greater acceptance of pre-nups, which looks good for the future. So, like every insurance policy, pre-nuptial agreements come with strings attached - but are well worth a look for your peace of mind.

James Haworth is Family Partner at Lawson-West Solicitors, Long Street, Wigston, Leicester.