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I’m Looking For A Man In Finance, Trust Fund, Pre-Nup

For most, the concept of entering into a pre-nuptial agreement is enough to put a dampener on any engagement celebrations.  But perhaps they shouldn’t be so quickly dismissed.

They might sound unromantic, but pre- and post-nuptial agreements are becoming increasingly commonplace.  Whilst a nuptial agreement can often benefit a party who is financially stronger, offering protection for assets acquired outside of the relationship or limiting the financial claims of the other party, such agreements can also benefit a financially weaker party.

As well as protecting the assets of a financially stronger party, a nuptial agreement can also set out the financial provision that a financially weaker party will receive in the unfortunate event of a separation.  This can include provision for housing and other capital needs, and can be tailored to suit the lifestyle of the couple.

A nuptial agreement should be negotiated by parties with the benefit of financial disclosure and legal advice, and should provide for both parties’ needs to be met, as well as any children of the family.  This means that, in the event of a separation, a financially weaker party will have more certainty as to the level of provision that they will receive, which can reduce the need for lengthy, stressful and costly court proceedings.

If one party wants the protection and certainty of a pre-nuptial agreement before tying the knot, then it’s important that the agreement reached works for both parties involved.  We always recommend starting negotiations as early as possible.

If you have any queries about pre- or post-nuptial agreements, please do not hesitate to contact us. Visit our family law page for more information or to speak to someone in our expert team.