Pre-Nuptial agreements. Why are they on the rise?

42% of a marries in England and wales end in divorce. That is a lot of marriages. And it does not include the number of people who don’t go for divorce.

There is not doubt that divorce is on the rise, and that more and more often the cases are messy and hard to navigate. Pre-nuptial agreements are the solution to these sticky situations.

A pre-nuptial agreement is a document that you and your partner will sign, so that in the case of divorce, the property and financial rights of each is clear. In simple terms it’s a clear cut escape clause. During marriage, 2 separate pots of assets and finance become one, and from then on it can become difficult to separate the two.

Whether people deem it unromantic and ‘gold digger-like’ there is no doubt that pre-nuptial agreements have their place. Let’s take a look at some of the cases where pre-nuptial agreement can be of high importance:

• If you have children or grandchildren from a previous marriage. There is no doubt you’d want them to have the best, and by signing a pre-nup you can ensure that they get their inheritance.
• Keep your business yours- If you own a business, in the event of divorce, your spouse may want to claim parts or money from it. Make sure you’re protected from this by creating a pre-nup agreement.
• It can cover other resopnsilbites such as childcare, decision- making and other aspects of the marriage.
• It can limit the amount of support one party has to give to the other post-marriage.
• Debts, if your partner has a lot of debt and relies on you to pay for some, you can ensure that you can do not have to take up that debt responsibility.

Court are now more likely to take into account a pre-nuptial agreement, when sorting out the process of the dividing the assets. They take into consideration that the pair have signed the agreement and have fully agreed to it. It therefore makes it easier for the couple during divorce as they know that one aspect of their divorce is sorted.

There is also a document called a post-nuptial. Which is created by a couple when they are thinking of divorcing- In this case the courts are more than likely to split their finances in the manner they have decided.

If you wish to seek any legal advice around family law, or simply want to know more, don’t hesitate to call our team on: 0116 2999 199 or alternatively you can email us at: info@d-w-s.co.uk