Engagements and wedding planning are joyful and heart-warming experiences and too often any talk of a pre-nup is viewed as being at odds with this special time.
But mind-sets are changing with more and more couples signing nuptial agreements, valuing the certainty and financial transparency that such an agreement brings and rejecting the notion that nuptial agreements are unromantic. Nevertheless, many feel apprehensive about raising the subject of nuptial agreements, partly due to the lack of impartial information and often influenced by popular misheld beliefs.
The Forsters Family team are on a mission to open up the conversation about nuptial agreements, to dispel myths and to inform couples (and their families and friends) about the benefits of having one and the practical process. We hope that by doing so, people will feel more comfortable and confident about discussing nuptial agreements candidly. Couples can then make an informed decision about whether signing an agreement is right for them and if so how and on what terms.
Over a selection of articles, we will be providing insight and guidance on pre-nups and post-nups in the hope of bringing clarity, reassurance and understanding. Whether it be how to raise the idea of a pre-nup with your other half, how to incorporate one into your wedding plans or what the process was like for someone who is now happily married, we hope to tackle the most commonly asked questions.
So let’s start with the basics…
What is a nuptial agreement?
The term “nuptial agreement” refers to both pre-nuptial and post-nuptial agreements, i.e. those entered into before marriage (“pre-nup”) or made after marriage (“post-nup”).
The aim of the agreement is to set out what the financial settlement would look like if a couple ever got divorced and to “ringfence” any assets that one or both of them is bringing to the marriage, or that they may inherit.
An agreement helps to provide certainty and security if a marriage breaks down and is also a good way of entering marriage with full knowledge of the financial picture. It gives couples more control to make their own arrangements for the future, rather than leaving everything up to chance (and potentially costly court proceedings in the event of divorce).