We have seen an increase in pre-nuptial agreements over recent years, but there are still some misconceptions surrounding them. We want to bust a few of these myths. Here, our Family Lawyer and expert Mediator, Dianne Burke, enlightens us.
Firstly, they are just good forward planning; formally defining the split of assets in the event of a marriage breakdown.
No longer just for the super wealthy, many clients looking into these agreements are those about to marry for a second time. They make arrangements to pass their wealth to their children on their death, and not to the new partner or their children.
Money is always a difficult conversation. If you can be honest and reasonable when discussing it with your future partner, then surely this should bode well for your married life and allow you both to plan for the future. Talking this through with a mediator will also allow you to ‘reality check’ your plans and consider a few scenarios you had not thought through. Once sorted, you can get on with your wedding and enjoy your future together.
Another misunderstanding is whether a pre-nup is worth the paper it is written on. UK Divorce courts do consider the wishes from a pre-nuptial agreement where a couple of key factors have been met. The agreement must be drawn up professionally by a solicitor, signed voluntarily and fairly.
There is a negative perception surrounding pre-nuptials. Maybe we’ve all watched too many American Soaps, but actually they are a positive document where the parties have choices and are proactive.
To find out more about how a pre-nuptial agreement might work for you and your partner, please get in touch with Dianne and Kate on 01937 547020.
