The Pros and Cons of Pre-nups

by Legal Author on December 3, 2012

A Prenuptial agreement can have an impact on marriage, but is that impact more likely to be positive or negative? (Guest post regarding pros and cons of prenuptial agreements.)

Pros

  • The most common reason that couples end up fighting is money. Getting your finances straight and discussing them before you’re married will make things easier to talk about in the future.
  • If you have children from a previous relationship a pre-nup can help protect their inheritance rights.
  • A pre-nup can protect the rights of business owners so that the business does not have to be divided in the event of a breakup.
  • If one partner has significantly more debt than the other a premarital agreement will protect the other party form having to take on the debts of their partner in the event of divorce.
  • If you’re planning to give up work when you marry then a pre-nup can help reimburse you for the sacrifice if the marriage doesn’t work out.
  • A pre-nup doesn’t just have to be about money. It can also detail other aspects of decision making and sharing of responsibilities which can be agreed in advance.

Cons

  • If both partners are relatively young and can make similar financial contributions then a pre-nup may simply end up eroding trust between the couple before they have even married.
  • It’s impossible to know what the future will bring so what seems inconsequential in a pre-nup could become a burden later on.
  • Pre-nups are usually carried out by two people in love, which means there’s a danger of agreeing to terms which aren’t in your best interest during the ‘honeymoon’ period.
  • A low wage earning or non-working partner could end up struggling financially if the pre-nup limits the amount of support they will get in the event of divorce.
  • If you contribute to the success of your spouse’s business a pre-nup could rule out any entitlement to a share of the profits if you split up.

If you’re considering a prenuptial agreement then talk to a family solicitor or divorce solicitor London to find out if it is the right option for you and your partner.

Legal Author

Legal Author

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