Should I get a prenup ahead of my wedding?

couple signing a document at a table

Should I get a prenup ahead of my wedding? If you're planning your wedding, it's likely you're experiencing a whole mix of emotions! On the one hand, you'll be on cloud nine and feeling so excited. On the other, the stress can often get the better of you, no matter how in love you are. The planning, the preparation and the pressure can be overwhelming at times.

In amongst all of this, you may not be thinking about putting measures in place to protect yourself in the event of the relationship one day breaking down. Whilst not the most romantic of things to be thinking about, an ever-growing number of couples are turning to prenuptial agreements ('prenups') to safeguard their money and assets before they begin their marriage and post nuptial agreements thereafter. At Stowe Family Law, we have seen enquiries for prenups increase by a quarter in the last year.

It can be a tricky thing to bring up with your future spouse, as many people still see prenups as demonstrating a lack of trust in the other. The important thing to remember is that communication is key. Consider opening up with your partner about why a prenup may be the right choice for you, while acknowledging any reservations your fiancé may have.

Many couples who come to us seeking advice on prenups want more than just 'the legal bit' (i.e. draft the agreement). So here are some top tips that we usually communicate with our clients:
· Talk about it well in advance of the wedding – prenups need to be finalised a minimum of 28 days before the wedding
· Do your research – know exactly what you're asking for, why you want it, and what it will look like. Think about whether there are any children to consider. This will help you feel more confident in your decision
· Be honest – in any relationship, honesty is the best policy and creating an open line of communication is essential
· Think about and prepare answers to questions your partner may ask
· Be willing to compromise – you also need to consider your partner's needs and finances
· Listen – your partner will likely raise concerns and may become defensive or anxious, so it is important to listen and show that you understand and care.

So, what is a prenup?
Prenups are certainly worth drawing up, even though they are not legally binding in England and Wales yet. These agreements set out in writing who owns what, taking into consideration: money, property, pensions and any other assets. This can be particularly useful if you have lived together for a long time before you got engaged and you need to reassess ownership. It can be very creative and include specific belongings, as well as pets.

There are certain conditions that must be met in order for a prenup to hold weight in any court decisions should the marriage break down. For example, there must be full and honest financial disclosure, and the agreement should be entered into freely and willingly by both parties. It is also crucial that you each receive independent legal advice, and that the document is drawn up by a lawyer.

It is important to remember that prenups are living documents and should be revisited at least every five years – more often if there are major life changes such as the birth of a child, or one of you receives an inheritance. Keeping your prenup regularly updated also makes it more likely that it will be upheld in court as it will be accurate. Prenups can be discarded by the court if they are seen to be unfair, or do not meet the conditions, so doing your research and making sure that you're both on the same page is very important. Risks that they will not upheld can be mitigated by making sure you have open communication with each other and by seeking the advice of a family lawyer.

The engagement and wedding planning period can be a wonderful and magical time. But it's also a time to think about how your future as a married couple is going to look and what sort of measures you might want to put in place. It is important for you both to feel financially protected.

Of course nobody wants to think about separating when they are planning their wedding, however a prenup does not necessarily have to have the thought of divorce as it's central purpose. It can be a great way to work out your finances and assets ahead of them being legally connected and putting protective measures in place.

Hannah Mugleston is an Associate at Stowe Family Law.

You may also be interested in

New app launches to simplify one of marriage’s biggest admin headaches

New app launches to simplify one of marriage’s biggest admin headaches

Changing your name after marriage can mean updating details with countless organisations, from banks and subscriptions to official documents and employers. New app Name Change Navigator aims to make the process easier, guiding newlyweds through each step from one platform. Founded by Rebecca Dainton, Head of Product at Flutter UK & Ireland, the app was created to reduce the stress and mental load associated with name changes. It supports a range of naming journeys, including traditional surname changes, double-barrelling, blended surnames and other choices following marriage, civil partnership, divorce or personal identity changes. The launch comes as younger generations increasingly rethink traditional naming conventions, with technology offering a more streamlined approach to this often-overlooked part of newlywed life.

READ ARTICLE

Enjoy Oystermouth Castle Outdoor Theatre This August 25th - 27th

Enjoy Oystermouth Castle Outdoor Theatre This August 25th - 27th

As the sun sets over Swansea Bay, the grounds of Oystermouth Castle will become one of the region's most atmospheric performance venues this month. Outdoor Theatre returns each summer with a programme of open-air productions staged against the backdrop of the 12th-century castle, where audiences can enjoy literary classics beneath the evening sky. This year, the line-up includes Shakespeare's As You Like It, Gilbert and Sullivan's Pirates of Penzance and family-favourite 'Pinocchio'. Visitors are encouraged to bring a picnic, settle into the historic surroundings and enjoy a relaxed night of entertainment with panoramic views stretching across Swansea Bay and Mumbles. With every Outdoor Theatre ticket purchased, visitors can enjoy half price entry to Oystermouth Castle from 25th until the 27th August.

READ ARTICLE

From best mates to distant relatives: Brits reveal the wedding gift hierarchy

From best mates to distant relatives: Brits reveal the wedding gift hierarchy

How much should you spend on a wedding gift? It seems the answer depends on just how well you know the happy couple. New research from One4all Gift Cards has revealed that almost half of Brits (49%) would spend less on a wedding gift if they were not particularly close to the couple. The relationship came out ahead of travel and accommodation costs (38%) and paying for a hen or stag do (28%) when it comes to factors influencing how much guests are prepared to spend. For those closest to them, Brits consider an average of £77 per person to be an acceptable wedding gift. The most popular amount was between £50 and £100, selected by 43% of respondents, while 36% believe spending up to £50 is perfectly acceptable. Just 5% would spend more than £200.

READ ARTICLE

Revealed: England and Wales’ most common wedding anniversary date as August accounts for nearly one in six

Revealed: England and Wales’ most common wedding anniversary date as August accounts for nearly one in six

1 September is the most common wedding anniversary date, with an average of 1,557 marriages taking place on the date, new analysis has revealed. The research, from drinks and gifting retailer Bottled and Boxed, analysed 22 years of marriage registration data from the Office for National Statistics to identify the dates when couples across England and Wales are most likely to be celebrating their wedding anniversaries each year. Every date in the top 10 falls between late July and early September, showing how heavily the most common anniversaries are concentrated in late summer. August is the most common month for wedding anniversaries, accounting for 15.7% of all marriages analysed, with an average of 1,254 couples married per day.

READ ARTICLE

Follow Your South Wales Wedding Magazine on Facebook

VISIT SITE

Follow Your South Wales Wedding Magazine on YouTube

VISIT SITE

Submit your wedding to be featured in Your South Wales Wedding Magazine

VISIT SITE

Follow Your South Wales Wedding Magazine on Instagram

VISIT SITE