COLUMN: Vows after Valentine’s Day - why pre-nuptial agreements are about clarity, not cold feet
Joining your life, your aspirations, and your assets isn’t without its challenges, which is perhaps why more and more spouses and civil partners are choosing to secure their shared future by creating a pre-nuptial agreement.
Unfortunately, there is still so much stigma around pre-nups that 18 million Brits remain exposed and without fundamental protections, according to data from The Co-operative. This is likely why over 70 per cent of divorcees admit that pre-nups are a good idea and regret not having one in place, as shown in research by The Times.
Pre-nups are no longer reserved for celebrities or the super-wealthy. Increasingly, they are used by ordinary couples who have their own assets or income streams that they would want to keep should their marriage come to an end. More importantly, they are not rooted in pessimism; they are about reducing uncertainty and setting clear expectations should life take an unexpected turn.
For those who want a safety net for their financial future, timing and transparency are crucial – much like the details on your big day. Couples should seek advice at least three months before the wedding, ideally six months. Both partners should provide full financial disclosure of their assets (including pensions and business interests), and each should receive independent legal advice.
Rushed agreements or incomplete information can significantly weaken the value of a pre-nup.
Perhaps most importantly, pre-nups must be entered into freely. Pressure – whether from an anxious partner or even a well-meaning family member who simply wants to protect inherited assets – can fundamentally undermine the agreement.
A pre-nuptial agreement is in no way about planning for failure. It is about informed decision-making, open conversations and protecting everyone’s position with clarity and confidence.
For more information, watch or listen to Wilkin Chapman Rollits’ In Perspective: Family Matters podcast on YouTube, Apple or Spotify.
For family law advice, contact Lucy Reding at [email protected].
This column has been provided by Lucy Reding, Partner in Family Law at Wilkin Chapman Rollits