Prenups (Pre-Nuptial Agreements) are important and should be considered. This short article, written by Radmila Balac a specialist prenup solicitor, sets out why having a prenup is important.
Prenuptial agreements can be used to set out who owns what at the time that a marriage or civil partnership is about to be entered into by a couple and how that couple would like those assets to be divided should they later divorce or separate.
Why have a prenup?
There are a number of reasons why a couple may wish to have a prenuptial agreement but the most usual are as follows:
1. You may have significant assets and property and you would like to protect those assets in the event of relationship breakdown, especially if they include assets and property that have been inherited.
2. You may be expecting to receive a significant inheritance in the future and would like to protect it in the event of a relationship breakdown.
3. You may have been married previously and have felt unhappy about your financial settlement and how it was achieved and would prefer that matters are dealt with differently in the event of divorce or separation, with you having more control and a greater degree of autonomy as to how the finances are arranged.
4. You have children from a previous relationship and would like to safeguard their future financial security and potential inheritances.
5. It may be useful to decide on the financial arrangements in the event of a divorce or separation at a time when you are not dealing with the emotional upheaval of that divorce or separation.
Whatever your reasoning behind considering a prenup, you should get specialist advice from a solicitor. Our prenup experts can assist you in drafting and negotiating a tightly worded legally binding prenup.
Contact us for an initial no-obligation consultation.