Pre-nups might not sound that romantic, but if you’re about to get married or live together, you might have a real mix of assets that you both bring to the relationship from inherited capital, pensions, or the family pet. A pre-nup can help you both be really clear on who owns what and how this would work both now and in the future.
Rather than thinking however, in terms of separation, think of it as relationship planning. Considerable effort goes into planning a wedding or moving in together and shouldn’t your finances be considered in the same way?
The legal position of Pre and Post Nuptial Agreements is changing and so is the social perception of them. It is acknowledged that people feel embarrassed talking about money but wouldn’t this be a good time? Peoples’ views are changing and the legal system is catching up. These agreements will be considered by the Court now, provided that they are drafted correctly and take into consideration relevant factors.
The purpose of an agreement, is to reflect the intentions of the parties and can be used to acknowledge different scenarios such as:
- One side of the family putting money into a property.
- Unequal contribution of capital into a property.
- A pre-existing family business.
- The existence of a trust fund with the release/future anticipation of inheritance monies;
- Entering into a second marriage, where you seek to ensure capital is protected for example, to pass to children from a previous relationship.
- Relationship planning can assist in these circumstances and enables you to have frank conversations and both take responsibility within the relationship.
There are lots of things to consider and our friendly and highly experienced Family Law experts can help guide you through. We want to ensure that you have an agreement that works for you both and helps protect both of you, now and in the future.
Get in touch today, click here to arrange a free initial consultation with a member of our team.
