Do you have a pre-nuptial agreement in place?

The two most popular times in the year to pop the question are at Christmas and Valentine’s Day.

There are benefits to this are:

If you miss the Christmas proposal, you can always make amends only 6 weeks afterwards and a ring under the tree for Christmas should be enough of a present to give to your loved one, surely?

Whether you choose to get carried away with the festivities or whether you are already into Hygge, the Scandinavian concept of cosiness which we are urged to embrace in the winter months, you may well be thinking of settling down.

Before, actually well before, you say “I do” it is always better to have a pre-nuptial agreement in place, according to Lindsey Canning, director in the family law at Wake Smith Solicitors.

Here at Wake Smith, we regularly advise through these newsletters about the benefits of both pre-nuptial and post nuptial agreements because we are the people who see the effect of no agreement being in place before a couple marry. And so the top 10, for one last time in 2016 are:

1. Pre-nuptial agreements are not currently legally binding but can be highly persuasive on a court
2. You are always better to have one than not
3. It can save on acrimony and cost later on should the relationship not succeed
4. It allows that ability to plan and allows the two of you to decide what should happen rather than the court
5. Make sure that mention of a prenuptial agreement with your partner is a discussion rather than a presentation
6. Approach it in the broader context of financial planning as you will inevitably have to do because of your marriage with changes to insurance, joint bank accounts and so on
7. Approach it in the context of wedding planning as the wedding will involve money, family issues, your hopes, dreams and expectations of each other. Neither the wedding nor the pre-nuptial agreement will be the last or most difficult decision that you will make together
8. Be positive and think of the pre-nuptial agreement as being a process of financial planning that will enable you both to achieve your mutual goals, including providing for the lifestyle you both want
9. Be reasonable. If you make unreasonable demands during discussions you may end up sabotaging your entire relationship
10. Your solicitor is there to help – really!

As to Hygge, it has been described as the art of creating intimacy but before you do, please count from 1 to 10!!

For further advice on pre-nuptial agreements contact Wake Smith on 0114 266 6660.