Pre-Nuptial Agreements

It is a sad statistic that nearly 2 in 5 marriages end in divorce and it certainly seems sensible to set down how you would like the divorce to be handled, rather than leaving it in the unpredictable hands of the court. Couples these days require certainty and the ability to decide for themselves what a fair outcome would be if the relationship ended, particularly if there are large financial implications or property ownership issues.

Legal Implications of Pre-Nuptial Agreements

In England and Wales however, pre-marital agreements are not legally binding and are only usually considered as part of the circumstances of each individual divorce case, with the major decisions still being made by the court. Considerations such as the length of the marriage or the birth of any children are taken into account, as well as looking at whether both parties had competent and independent legal advice at the time of the signing.

If the court is not totally happy with the agreement, they can disregard it as their aim is to be as fair and reasonable as possible to both parties, though it is becoming increasingly common for the courts to abide by the agreements, providing they are fair and reasonable.

What are the repercussions?

So there are the basics, but what about the repercussions? It is often said that taking out a pre-marital agreement undermines the sanctity of marriage; it is essentially going into a marriage by preparing for its failure. This is perhaps why pre-marital agreements are still quite rare in this country, as highlighted by one 2006 study which shows that false optimism about the success of their marriages and fear that requesting a pre-nuptial agreement would signal uncertainty about a marriage before it has even started.

The idea of going into a marriage with this in mind could destroy any romantic ideals you may have but going into a marriage as prepared as you can be, ensuring that both of you are considered should things not work out, is merely careful planning and shows consideration for each other.

Mark Andrew, agreements coordinator for www.prenuptialagreements.co.uk says that it is always a presumption that if you raise the issue you are raising the spectre of divorce before the wedding ceremony has taken place, but taking out a pre-nuptial agreement is merely prudent financial planning.

Says Mark: “85% of people who took part in the 2006 survey indicated that they would not be offended if the issue of pre-nuptial agreements was raised. People are becoming more financially aware, and in a way this is a form of insurance should the worst happen - unfortunately, the statistics show that this is very likely.”

Links:

www.prenuptialagreements.co.uk
www.gayprenups.com
www.lesbianprenups.com

By Mrs2Be feature writer Allie Matthews

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