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In praise of Pre-Nuptial Agreements

EH SolicitorsBlogIn praise of Pre-Nuptial Agreements

Jun

16

In praise of Pre-Nuptial Agreements

It’s fair to say that we don’t see house insurance as sign of an impending burglary, and equally health policies aren’t seen as a morbid omen that the grim reaper’s scythe is being sharpened.

So why is it then that so many have a problem with the concept of pre-nuptial agreements, which is really just an insurance policy on their marriage?

We know they aren’t romantic, be deemed by some to show a distinct lack of trust and really not what most brides considered when the man of their dreams slipped the ring on the finger, but it is worth looking at closer.

The average length of a modern marriage in the UK is according to most statistics around 13 years. Also, statistics bear out that divorce occurs in around 40 or 50 per cent of cases.

This is a solid reason why the pre-nuptial agreement is becoming so popular in recent times.

In English law after marriage all of a couple’s assets become joint matrimonial assets, whilst a prenuptial agreement has the aim of trying to limit any claims on those assets by the other party should the marriage not last a life time.

Very recently, the Law Commission drafted a bill recommending that pre-nuptial agreements be enshrined in law. So currently, whilst not legally enforceable, a prenuptial agreement properly drawn up by a knowledgeable family solicitor is certainly persuasive evidence over how a couple agreed to divide their assets before marriage.

Certainly, a prenuptial agreement has a large impact in the result of a divorce case, and it is likely they will soon be enshrined in law.

Whilst still a relatively modern move, prenuptial agreements are already being seen as a sensible move to protect inherited assets and legacies to children from previous relationships.

Having worked with many people who have decided to part company we believe pre-nups are vital and particularly advisable for those who remarry later in life, having accumulated assets.

Also whilst many a divorce can be difficult an enforced per-nup may be a way that will avoid bitter and expensive disputes, which affect many people and cause wounds that can last a lifetime.

We know pre-nuptial agreements is a difficult subject to discuss, but remember the aim of it is just like health insurance –in an ideal world we will never call on it. However, it certainly can offer considerable peace of mind if the worst does happen.

If you want to learn more about pre-nuptial agreements or any other matter surrounding family law issues then contact Helen Morton on 0121 745 2810 or email her at [email protected]

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