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Posted on: 26 August 2013 by Goodwins Family Law Solicitors
You may have noticed over the years that an increasing number of celebrities are ensuring that their millions will be safe through signing a pre-nuptial agreement with their husband or wife-to-be. In their case it is entirely understandable, being that many celebrities are vulnerable to ‘gold digging’ behaviour and would like to ensure their assets are firmly in their own hands and not at risk during the course of a divorce, however does this mean that the ordinary couple should forgo this step before marriage?
If you have any significant assets that you have amassed prior to the marriage and would like to try and ensure they remain your sole property for security in the long term, a pre-nuptial can help to establish certain rules and limitations. This can include property, any businesses you own or are in partial ownership of, as well as liquid assets such as money or precious metals.
If you have any children from a previous relationship you can also outline what they are entitled to in the case of dissolution of the marriage. This allows you to plan for their future as well as your own. If you have been together a number of years prior to your marriage you may have amassed joint debts. In this case you can outline how the debt will be shared at the dissolution of a marriage. This can have certain conditions, for example: if one person’s earnings far outweigh that of the other, you can ensure the debt is split proportionally – the choice is yours.
Approaching the proposal of a pre-nuptial agreement can be a tenuous one. However, once the initial conversation is over and both parties agree to the formation of one you can have a frank and honest discussion which clearly sets out the terms. At this stage you should find a reputable specialist family law firm to assist you. Every pre-nuptial is different, and your solicitor will help you to define the terms covering all possible bases.
There is an association that a prenuptial agreement predicts a divorce or undermines the sanctity of your marriage; however, in reality it is far from it. It is simply a document that may help to put both of your minds at ease should you choose to dissolve the marriage in future – and however far-fetched that may seem on your wedding day, unfortunately circumstances can change and your pre-nuptial can grant you both peace of mind.
Even if you don’t have a large amount of assets, be it property, business, or money, a pre-nuptial can help you to plan for the future and for those around you, and in the case of a divorce it is extremely comforting to know that hopefully you won’t be spending hours in court contesting you or your partners claim.
Therefore, in conclusion, whilst celebrities certainly take most of the limelight in the press closely followed by the super-rich, everyone can benefit and it is a worthwhile step to get in touch with the specialist family law firm in your area for advice and guidance if you are considering forming a pre-nuptial agreement.
Read further advice and guidance in our online Advice Centre.