Pre-Nuptial Agreements - Love is Blind

Not just for the Rich

Pre-Nuptial Agreements are common in many countries.  They are not yet legally binding in England but are becoming increasingly popular with couples who are about to marry, especially if they have significant assets.

Whilst many may consider a Pre-Nuptial Agreement to be unromantic, they can save a lot of acrimony and expense, if a marriage breaks down.  They can also help to preserve assets, brought into the marriage.  The Government are currently considering whether or not to make them enforceable in England.  Consequently therefore, at some point in the not too distant future, they may become legally binding.

There have been a number of reported cases in which the courts have attached far more weight to Pre-Nuptial Agreements than they would have previously done.  More particularly, where the marriage has no children, both parties have received legal advice and have given each other their financial information prior to entering into the Agreement.  The Agreement also has to be perceived as fair.

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Scenario

Ms Jones set up her own business and owned her own home.  Everything in her life, she had worked for.  The only thing missing, was a partner to share her life.  Mr Wright comes along and they become married.

If the relationship breaks down, Mr Wright would be able to claim a share of Ms Jones' assets, within the divorce.

A Pre-Nuptial Agreement would have clarified the financial situation prior to the marriage and acted as a persuasive part of Ms Jones' evidence.

For Many, an Agreement is essential, particularly for those embarking on second marriages.