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Future-proofing marriages: how pre-nups can help

Creating bespoke pre-nuptial agreements for our clients sees our Family team help future spouses map out their life plan together in a considered way. At a time when their focus is their wedding day, we enable discussions around the life events that will matter in the years of marriage ahead.

According to Head of Family LawSusie Barter, pre-nups discussions can start with two key issues: where will the couple live and how will they fund their life together. From here, her team help clients navigate the complexity of associated issues that can arise in different families: which assets to keep separate, whether to consider joint or separate finances, pension provision for a non-working spouse, whether a future home or homes will be owned jointly or separately.

“The first conversation that I have with any client is to explain some basic principles of English law, such as the no-fault approach to financial settlements,” Susie explains. “The next stage is to set out the likely milestones that any married couple might face and ask our client to consider how they would want to respond to these circumstances.”

She adds that invariably clients find the pre-nup process to be both positive and constructive. “Everyone wants their marriage to succeed.  A pre-nup gives both sides a valuable space to have discussions that they might never otherwise have thought about.”

Wealth protection and more

Wealth protection is often considered to be the main driver for pre-nups, and they are undoubtedly an effective tool for this purpose. Aside from an individual’s personal wealth, preserving future inheritance – such as an art collection or property – can be achieved for future generations. It is often parents that that first raise the possibility of a pre-nup with their soon-to-be married child.

But there’s far more to pre-nups than simply the complex arrangements of the very wealthy. A good pre-nup – and the discussions that inform it – can provide a framework for decision making within marriages. By making agreements for every milestone life event, you can remove the pitfalls of assumption (“But I thought it was my house as my grandmother bought it”) and misunderstanding (“You never said that you only wanted one child.”) How might a dual-career couple navigate childcare? Whose career might be compromised, and for how long? How would finances be shared if one spouse is no longer working?

An essential part of pre-marriage preparation

Often used in second marriages, where both parties are bringing careers, families and potentially differing financial expectations to the table, there’s a strong argument that the topics covered by a pre-nup should be part of every couple’s preparation before their big day, an essential life-strategising exercise.

Working together at the outset to consider and agree possible solutions not only produces clarity in the event of a divorce but also provides a blueprint for a lasting marriage – and a way to never join the 40% of couples in the UK facing the disruption, cost and pain of a permanent split. Instead of simply concentrating on the ‘I do,’ consider the ‘What if’ and consider using a pre-nup to plan for all that life might throw at you.

Posted By Susie Barter

18 October 2023

Susie Barter
Head of Family