Three Benefits of a Pre-Nuptial Agreement
This blog will outline the benefits of a prenup.
A pre-nuptial agreement is a valuable legal document that provides vital peace of mind if a marriage or civil partnership breaks down. It outlines a binding agreement on how various assets will be distributed to avoid any confusion and dispute.
However, pre-nuptial agreements can be awkward to discuss, especially if one partner surprises the other by bringing it up. Acquiring the services of a reliable, experienced, and compassionate solicitor will play a key role in easing the process. Give Kee Solicitors a call on 0141 478 9090 to find out how we can help.
Have the Conversation While the Relationship is Healthy
Arguably the most significant benefit of a pre-nuptial agreement is that you can organise how income and assets will be distributed while the relationship is healthy and both parties are acting in good faith. Naturally, people can begin to behave more belligerently, emotionally, and in some cases spitefully following separation.
Although talking about how money should be distributed in concrete terms in the theoretical event of separation can be awkward, the peace of mind it provides cannot be understated. It removes any latent uncertainty parties might have when deciding to combine their finances.
So before getting married, have a discussion about arrangements in case the worst happens. Our solicitors will help you and your future spouse or civil partner to reach a fair agreement on financial arrangements in a good-natured environment before any potential fallouts down the line.
Account for Difference in Income or Assets
We can’t predict the future, and regardless of how you might feel at the moment, things happen, and emotions change. This can give people reservations before committing to a legal union, especially when there is significant financial disparity, potentially leading to an unfair distribution of assets following separation.
Relationships involving high net worth individuals can require careful planning. A prenup removes any uncertainty as to how assets will be distributed following a divorce or dissolution. That is not to say that your partner who is in a less financially advantageous position will get nothing, but rather a sum that both of you consider palatable and fair.
If you aren’t sure where to start, our experienced solicitors will examine the specifics of your individual case and provide advice on what would be a productive place to start. From there, we can work with you to tailor an agreement that you, and ultimately your partner, are happy with.
Protect A Significant Property Investment
Buying a property with the intention of using it as a marital or family home can leave one party to a relationship financially vulnerable if they invest more money in the purchase. In some cases, this can encourage partners to choose a house that isn’t necessarily their ideal to be more in line with your shared finances.
However, a pre-nuptial agreement allows a couple to purchase their dream home using the advantageous financial position of one partner without the fear that they might subsequently lose this investment in a separation dispute.
As such, taking a pragmatic view of a pre-nuptial agreement, the legal agreement can be beneficial to both parties. Both partners can live in a home that is the best possible option for them and their family, and the significant investor has the peace of mind they will not lose the property in a divorce.
Get in Touch
We live in a society where talking about money and finances can be seen as tasteless and awkward. However, we also live in a society where, despite our best intentions, separations and divorces do take place commonly. Therefore, preparing for this eventuality with a prenup is logical, not paranoid or greedy.
Whether you want to protect yourself before committing to a marriage or civil partnership or have had the issue raised by your partner and need legal advice, Kee Solicitors will help you reach a fair and reasonable pre-nuptial agreement that gives your relationship a solid foundation to move forward from.
For tailored and experienced advice on pre-nuptial agreements or any other aspect of family law, give us a call now.
