As more than 40% of all marriages end in divorce, according to the Office of National Statistics, there are key issues that couples should focus on before they make such a serious commitment to one another.
A Pre-Nuptial Agreement is one way that couples can protect themselves should the relationship break down. Although Pre-Nups are not guaranteed to be water-tight when it comes to a divorce, they are becoming more influential when considering a financial settlement.
It is important to really know your partner, not just about their favourite food and movie. Knowing what each of you expect from married life is vital.
As couples grow, their behaviours alter and they can begin to drift apart. Therefore, it is important to be aware of this so couples can work on their differences and continue to do so together.
People’s interests change as they mature and career paths diverge so it is important that both parties anticipate as best they can, different future scenarios and what they would mean for their financial security if the marriage ended. Discussions should also include what would happen in terms of financial support and the care of the children.
While it can’t guarantee a 100% protection of your assets, a well drafted Pre-Nup will go a long way in persuading a Court how the financial assets should be divided up if there is a divorce.