Top tips for planning for a Valentine’s Proposal
With February comes Valentine’s Day. This may lead to thoughts of popping the question, buying a ring and getting down on one knee! Amidst the love and romance, however, there is a rather more practical consideration which is often not thought about……should you have a pre-nup?
Whilst having a pre-nup may not be very romantic, it is worth thinking about. Here’s my top ten reasons why:
- Clarity. You can both be clear about what should happen to your assets upon any future separation or divorce.
- Certainty. With some legal criteria covered, pre-nups carry a lot of weight.
- Transparency. You will both find out what the other party has in terms of assets and income so there should be no unwelcome surprises at a later date
- Improves communication. Talking about money is notoriously difficult for us Brits but having these conversations at the outset can support good communications, vital for a healthy marriage.
- Protect assets. If you wish to protect, for example, inherited wealth, a family business, family heirlooms, assets from a previous divorce settlement etc. this can be covered in the pre-nup.
- Autonomy. Rather than potentially leaving the decision about what happens to your assets and income if you separate or divorce, to a judge, you can both decide what should happen.
- May save money. If you separate or divorce, the costs of having a pre-nup are usually far less than fighting over who gets what.
- Protect children from prior marriage(s) / previous relationship(s). If you want to try to ensure that your wealth which you wish to leave to your child/ren from any previous marriage or relationship is safeguarded, a pre-nup is the best protection available.
- Minimises acrimony. If you separate or divorce, having a pre-nup should prevent or at least hopefully reduce arguments about money.
- Protects any business interests. Setting out what is to happen to any business assets can give peace of mind to your business partners and hopefully prevent any disruption to the business should you separate or divorce.
If you would like more information about having a pre-nuptial, or post-nuptial agreement, or need help or advice about a family law matter or family mediation please contact Sarah French on 01962 841484 or firstname.lastname@example.org