Here’s Why a Pre-Nuptial Agreement Is Beneficial

Love is in the air. If you’re planning to get married soon, first of all, congratulations! #HerestoaHappyCouple!

Planning your wedding can be stressful with things like the cake preparation, finding the perfect dress, making a guest list, and arranging for decorations and catering.

But it’s often the wedding plans that we focus on, not what’s supposed to happen afterwards. Even if you can’t imagine anything going wrong, bringing up the idea of a pre-nuptial agreement should be taken into consideration.

While it’s not the most romantic notion to think about, it has many benefits that can save your marriage and communicate your needs.

With that in mind, here’s why a pre-nuptial agreement should be on top of your list of wedding plans:

Protection of Marital Assets

It goes without saying that not everyone lives the same life. One spouse may be wealthier while the other may be in the early stages of his/her career.

A pre-nuptial agreement protects marital assets that you might bring along with your marriage. Often, young people make the mistake of not taking this into consideration because they don’t think anything will go wrong.

Whose Debt is It?

Another thing young couples tend to ignore, is debt. From mortgages to student loans, debt can be stressful to deal with. So if you don’t want to think about having to deal with your spouse’s debt and paying for it, an agreement should be listed about who pays for whom.

Financial Security

If one spouse is wealthier than the other, it’s natural for the poorer spouse to want financial security. A pre-nuptial agreement helps define who pays the bills, whether a shared bank account is necessary and part of the plan, and whether or not the wealthier spouse will give a certain fixed amount to their partner every month.

In some cultures, it is compulsory to pay your spouse a fixed amount of money so if your spouse comes from a culture completely different from yours, it’s good to come to an agreement before getting married.

Pre-nuptial agreements are often thought of as contracts for financial security so it’s important to discuss everything with your fiancé before coming to an agreement.

Furthermore, before signing the contract, make sure to go over it with a solicitor so that you know all your rights.

At Wembley Solicitors, we offer legal advice regarding family law and marriages. Feel free to visit our website for further information regarding protection laws and pre-nuptial agreements in the U.K, or call us at 020 3417 3700. You can send an email to info@wembleysolicitors.com for questions/queries as well.