So often that is the first thought that comes to mind when someone mentions a pre-nuptial agreement. Any thought of romance is dead and it’s all about protecting wealth. The next thought is usually that pre-nuptial agreements are only for the rich and famous and have little, if any, relevance to our daily lives. Think again.
A recent study from the American Academy of Matrimonial Lawyers shows that 62% of those responding to the survey have seen an increase in the number of clients asking their lawyers for advice in relation to pre-nuptial agreements. In addition, 51% of those who took part, report an increase in Millennials looking for advice on pre-nuptial agreements.
It’s often said that what happens “across the pond” is soon replicated here. For my part, I can certainly say that there has been an increase in the number of clients looking for advice in relation to pre-nuptial agreements. Generally however those clients are motivated out of a desire to protect their children from a first marriage or relationship, as they consider whether to marry for a second time.
Contrary to common perception that pre-nuptial agreements are only for the wealthy to extort a financial advantage, my clients see it as a way of trying to achieve a fair outcome for all involved.
Gone are the days therefore, in my opinion, that pre-nuptial agreements are only for the rich and famous. They may prove to be an invaluable tool to all of us.
If you are considering whether a pre-nuptial agreement is right for you and your circumstances, it is vital that you speak with a family law specialist who can advise on whether it is the right approach for you and what areas should be covered.
Farleys’ family law team can assist with all aspects of pre-nuptial agreements and even post-nuptial agreements; if you decide after your wedding to draft up an agreement. Call us today on 0845 287 0939 or email us through our online contact form.