Secure Your Assets
If you are in a serious relationship and considering either living together, getting a joint mortgage or indeed getting married you need to seriously consider getting a pre-nuptial agreement drawn up by a Lawyer.
It is unfortunate but 50% of marriages don’t last, they break down for whatever reason, regardless of the intentions at the start. We recommend you prepare yourself, partly to ensure the parting from each other goes as smoothly as possible.
The agreement will look at things like;
- Family Money – Estates, Inheritance, Trust Funds
- Income – Salary
- Children either of your own, or from a previous relationship
The consideration is what the other person can claim as theirs if you decide to separate. Things can get confusing re what is yours, and what is theirs. A Pre-Nuptial Agreement simplifies matters and is a legally binding document.
If you do Marry assets are considered matrimonial assets, therefore it is easy to split 50/50 but that may not be in your best interest if for example you have a Trust Fund or properties that were purchased before you got married.
How do I get one?
Don’t get one last minute before the wedding, that can seem very clinical and can cause all sorts of arguments. Get the pre-nuptial agreement sorted out in advance, allowing things to feel natural throughout the relationship.
You need to be upfront and honest with your lawyer (and each other) about your assets, or debts. Don’t go into a new relationship with a cloud hanging over your head.
Take independent legal advice, spend as much as you can afford on the pre-nuptial agreement to get the best advice. There is nothing worse than going with the cheapest option and then feeling like you are not being helped.
Be as clear as possible when speaking with each other, and your lawyer.