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Pre-nups offer couples security; LEGAL BRIEFING WITH RAYNER GRICE, PARTNER, FAMILY AT CLARKE WILLMOTT.

VALENTINE'S Day a time to treasure our loved ones and traditionally a prime time for marriage proposals. So the last thing that you want to be thinking about is the positon you may be in if the fairytale ends and the relationship breaks down. However, as with all good fairy tales there isn't always a happy ending. In the event that the worse does happen then what could you do now to protect yourself? Pre-nuptial agreements have in the past been viewed as not enforceable, so why bother? Further, how on Earth do I raise the fact that our marriage may fail when we haven't even got to the point of choosing the rings not the most romantic gesture!

However, more and more couples are entering into pre-nuptial agreements as a form of protection as much as they would execute their will or take out house insurance. You do not expect your house to burn down but what if it does? A pre-nup can give both parties security about their financial future if they are drafted correctly and deal with needs and fairness. They are especially common when there are second marriages or inherited wealth so that families can ensure fairness in preserving family wealth for their children and grandchildren.

Pre-nups can also deal with preserving specific assets such as an interest in a family business to ensure that if the relationship did end then the future of the family business would not be affected by the financial implications of the divorce.

The key is that they are an agreement so both parties have control over the contents and outcome and can begin their marriage not having to worry about their financial future, something that more people are recognising as simply dealing with their finances sensibly.

?RAYNER can be contacted on 0345 209 1382 or by email at rayner.grice@clarkewillmott.com. See www.clarkewillmott.com

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Publication:Birmingham Mail (England)
Date:Feb 14, 2018
Words:316
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