In the News: Pre-Nuptial Agreements

shutterstock_306831992.jpg

A new survey has found that one in ten married Britons wished that they had insisted that their partner sign a pre-nuptial agreement.

Pre-nuptials, once seen as the preserve of the very rich, are now becoming more common for the everyday Briton. Following the increase of divorce rates in the past decades, many now see a pre-nuptial agreement as a sensible option should their marriage ever deteriorate. With many high profile cases in the news, people are increasingly conscious of the enormous cost of having a divorce. A pre-marital agreement can serve to reduce some of that cost; it can also be help to quicken to process and to relieve some of the stress that divorce brings.

Others see pre-nuptials as a somewhat cold-hearted option that cheapens the idea of marriage. They reason: if a couple is not fully convinced of their ability to make their marriage last at its outset, then why marry at all?

 

A tricky question to ask

This survey was carried out on 1,000 married people from across England. 10.1% of those surveyed claimed that they regretted not signing a pre-nup, with a further 2.2% saying they were afraid to ask their spouse before the marriage. 3% said they wanted to have an arrangement but did not know how to get one. The main reason for a lack of pre-nuptial agreement was that the other partner had ‘refused’ to enter into the contract.

A similar amount (10.9%) of those surveyed said they had no interest at all in making a pre-nuptial agreement, for reasons such as finding it unromantic or worrying it would cast doubt over their marriage.

 

If you are currently engaged...

Our managing partner at Fiona Bruce Solicitors, Phil Porter, has previously written an in-depth article on the advantages and disadvantages of pre-nuptial agreements, which we can highly recommend reading if you are planning on getting married.

Read it here.

It is always essential to remember that regardless of your personal stance of Pre-Nuptial Agreements, they are not legally binding; final decisions on the division of assets will always fall to the Judge.


Article Disclaimer

This article is for general information only and does not constitute specific advice.  You should not rely on the information in this article.  Fiona Bruce Solicitors recommends that you seek our specific advice if you wish to rely on the any part of this article.  Whilst Fiona Bruce Solicitors makes every effort to ensure that the article is accurate, Fiona Bruce Solicitors excludes all liability for claim, loss, demands or damages of any kind whatsoever (whether such claims, loss, demands or damages were foreseeable, known or otherwise) arising out of or in connection with the use of this article or any other information contained on this website.  Any information provided only applies to England and Wales.

Posted on February 19, 2016 and filed under Personal.