As much as we want to believe that marriages last forever, this simply isn’t the case. The facts even back it up! Up to 20% of marriages end within the first five years, with more than 30% ending in 10. With numbers this high, it might be wise to protect your assets with a prenuptial agreement.
Once married, your assets are no longer your assets, as they can be distributed to your partner through a divorce. A prenuptial agreement, also known as a prenup, ensures that what’s yours is kept that way, regardless of what happens in the future.
Here at St Helens Law, we have helped many couples set up prenuptial agreements they’re happy with, so if you’re on the fence about using one yourself, here’s why they’re so important.
What is a prenuptial agreement?
Your preferences and interests should be valued, and a prenuptial agreement confirms this in writing. Should a divorce occur or the death of your partner, a prenuptial agreement will ensure that your estate is distributed as requested, rather than by default.
This agreement is a legal document and requires both people to cooperate and agree to the contract. A prenup will usually list the property each party owns, as well as detailing what they will be entitled to by right after the marriage ends. It’s easy to see why pre-nuptial agreements are popular with couples that are preparing for the future, as they have a number of benefits.
Prepares you in case of divorce
Planning for the future is always a smart decision. After all, who knows what may happen, no matter how unexpected it may be. Even if it’s with the worst case scenario in mind, a prenup reassures you that you’re prepared. Should you not make a prenup, then the end of your marriage can turn quite messy. Not only will you be spending time dealing with the divorce or death of a loved one, but you’ll also have extra worries in terms of the legal process.
In such a tough time, we’re sure this isn’t something you need.
Gives your children a secure future
With children under the age of 18, you need to also consider their future too. A prenuptial agreement is a perfect way to do so, as you’re able to have control over what they inherit from the end of the marriage. This includes children from a previous relationship that you may want to benefit but would be unable to do so if belongings are distributed via the standard way.
One of the main reasons why a prenuptial agreement is popular with couples is that they know they can look out for their children as a result. The courts place more emphasis on children related matters, with their inability to make their own decisions before the age of 18.
For a hassle free future for your children, a pre-nuptial agreement is definitely a good idea.
Allows you full control over your assets and finances
We all deserve to be in control of what we own right? After all, we’ve worked hard for our possessions and should have a say in where they go. By signing a prenup with your partner, you can agree on a split that suits you, meaning that you can be left with all of your rightful estate if your marriage ends.
This also ensures that you don’t get tied up in any issues your partner may be facing when it comes to their finances. By completing a favourable split for both parties, you won’t be burdened with your partner’s debt should they have any.
Start your prenuptial agreement today
Here at St Helens Law, we are specialists when it comes to creating a legally correct prenuptial agreement in St Helens and elsewhere. You can contact us to speak to one of our experts with any questions you may have, and we will gladly assist.
Our family solicitors in St Helens have many years of experience in the field and are on hand to provide any advice whenever you need it. We always want to work with you to achieve your ideal prenuptial agreement and secure the future of yourself and your loved ones.
So why not give our new number a call on 01744 742360 or email us at email@example.com and we will get back to you as soon as possible. You can also fill out our online contact form to arrange a FREE 30 minute initial consultation.