- AuthorSandra Hickson
The date has been set, the venue booked, the wedding dress bought.
What about the pre-nup?
Of course nobody wants to think about divorce while organising a wedding. However, nobody wants to think about death either and many newlyweds do not hesitate to make a will to ensure their loved ones are well looked after when they are gone.
Unfortunately, 42% of all marriages end in divorce*. The breakdown of a relationship is a stressful and emotionally draining time in anybody’s life. Lengthy court proceedings to determine the distribution of the available assets can easily add to the stress and tension.
By entering a pre-nuptial agreement at the outset, you and your partner have a greater chance of ensuring that those assets brought into the marriage, including business interests, assets retained from a previous relationship or inherited heirlooms, are protected in the event of a divorce.
Pre-nups now have a significant influence when the courts determine the distribution of assets in a divorce, as long as they comply with the relevant criteria. One of the critical factors a court considers is whether the parties had legal advice when agreeing and drafting the pre-nup. Homemade or ‘DIY’ pre-nups are therefore rarely worth the paper they are written on.
An agreement prepared by a solicitor and entered into before, or even just after the marriage, can limit the scope of potential court proceedings in the future and can help to preserve valuable assets.
Look at it as an insurance policy – you probably will never need a pre-nup, but if you do, you will be very happy you have one.
For more information on the advantages of entering into a pre-nup or a post-nup, do not hesitate to contact Sandra Hickson on 0121 355 0011 or firstname.lastname@example.org.
*Office of National Statistics 2013