March 7, 2014

Would You Enter Into A Prenup? And Why I Would Sign One

At the moment ‘Prenups’ are not legally binding in the UK. But this may all change as ministers are due to discuss the shake-up of divorce laws after a proposal is issued by the Law Commission later this month. The proposals are likely to suggest that a judge ‘considers’ pre-nuptial, post-nuptial and separation agreements when couples are divorcing. But with the average cost of drawing up a prenup being £750, would many couples be likely to add that into the cost of their wedding? Do you think a prenup undermines a marriage and trust?

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Personally I think it’s a sensible thing for you both to do as a couple. It protects both of you for the future and I look at it more of an insurance policy rather than a lack of trust. No one wants to think that their marriage isn’t going to last, but you can’t argue with statistics. You only have about a 5% chance of being burgled, but you still have home insurance to protect you in case it happens and if you add up your premiums over the years I bet it comes to more than £750. Yet about 42% of marriages end in divorce, so why would you not protect yourself with a prenup? Surly £750 is a small price to pay to make sure everything is settled fairly if the worse was to happen.

I think you are a lot more rational at the start of a relationship and are more likely to come to a fair agreement when deciding on a prenup than you are during a divorce. When you are in love, you want your partner to be happy. You are more likely to make balanced judgments when it comes to division of assets and what would happen with access to any children you might have. During a divorce, bitterness can creep in and you don’t want your ex to have anything from the house and children can be used as a weapon to hurt the other person. You can spend a small fortune on solicitors as you fight over the smallest things and the stress can be immense. By having a prenup in place, it could save you a lot of time, money and aggravation in the long run.

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So, would you sign a prenup??? You’re going to be married forever, so what do you have to lose???

 

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