A pre-nup, or pre-nuptial agreement, is an Agreement entered in to by a couple prior to their marriage. The document will set up their intentions in relation to their assets in the case of a separation.
It seems, perhaps, unromantic to be thinking about what will happen if the marriage ends, especially before the knot has even been tied, however, pre-nups serve a practical purpose as well, hence their increased popularity.
Relationships are not all the same and there are many more couples marrying later in life, or for the second time. Having worked hard to build up individual financial security, some couples feel it is only fair that this is protected if the marriage does not work out. In addition, if the marriage does not work out, if there is an agreement that is already thought through, in happier times, it means there is less to argue about later on. This leads to perhaps less bitter break-ups and better security and certainty for any children involved.
Pre-nups are not reserved for celebrities or multi-millionaires, they can incorporate a single property, pension, or distinct assets.
If you wish to discuss your individual circumstances or requirements, call us today on 023 9249 2967.
I’m getting married – do I need a pre-nup?
Pre-nups are big news at the moment. There seems to be increased media coverage of couples entering into pre-nups to protect their assets in case their marriage does not work out.
Entering into a pre-nup is not only for celebrities and for people with millions of pounds to protect. A pre-nup can also serve to protect assets that perhaps you would prefer were preserved for your children or other family members.
marriages where both people have children from previous relationships it is quite common to enter in to a pre-nup to provide for both parties’ assets to be kept separate in the event of a separation.
Are they complicated and expensive legal documents?
Not necessarily. It will depend on the number of assets involved and the more assets, the more complex the document. However, if, for example, both parties have one property each and they want to protect these in the event of a separation, this would be quite straight forward and inexpensive.
At Swain & Co Solicitors we offer a range of fixed fees so that the costs are transparent and you know where you stand.