Should I ask my partner for a Pre-Nuptial Agreement?
Apr 29, 2022
Described in the press as an ‘epic pre-nup’, the reported agreement between Brooklyn Beckham and his new wife will have been meticulously drafted to protect their respective interests.
The fact that it’s in place is no surprise. Where significant wealth is involved, on one or both sides of a marriage, a Pre-Nuptial Agreement is usually expected. However, what about non-celebrity situations or those in which neither party have huge sums to their name? Is it worth considering a Pre-Nuptial Agreement?
Yes, potentially. A Pre-Nuptial Agreement sets out what should happen to various assets in the event that things don’t work out. The parties address this while the relationship is good, which is beneficial because it can be extremely difficult to agree a fair division of assets in the aftermath of a break-up. A Pre-Nuptial Agreement brings clarity about who should get what. This can be hugely reassuring for those who feel they have particular things to lose; a Pre-Nuptial Agreement allows them to ringfence wealth or possessions and avoid the need to argue ownership or entitlement to them later on. For parents entering into a second marriage, a Pre-Nuptial Agreement can be particularly useful because it allows them to protect assets intended for children from their first marriage.
So why don’t all couples make a Pre-Nuptial Agreement? There are various reasons. Some people simply don’t think about it. Some don’t feel comfortable suggesting making one; a Pre-Nuptial Agreement is about what happens if things go wrong. Some people think that staking their claim to various assets isn’t compatible with throwing themselves wholeheartedly into marriage. Others think a Pre-Nuptial Agreement isn’t worth the paper it’s written on.
If you fall into one or more of those categories, my advice is to talk to a Family lawyer. As one who helps clients through the difficult matter of dividing assets on divorce, I know that a Pre-Nuptial Agreement would have made the situation far easier for many. While these agreements are not automatically binding, they are a firm indication of each person’s intentions and can influence the outcome. This can mean the difference between walking away from marriage with (and without) things that are important to you.
When it comes to the perception that a Pre-Nuptial Agreement creates, handled well, it’s just another important aspect of future planning. These agreements are intended to be fair (both you and your partner should get legal advice on your position) and so you each stand to gain from having clearly defined terms about the things you own. Ultimately, you may never need to call on your Pre-Nuptial Agreement but it’s good to know it’s in place if you do.
To speak to us about a Pre-Nuptial or Post-Nuptial Agreement, contact our team on 01264 353411 or at firstname.lastname@example.org.
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