Associate Harriet Collins dispels common myths surrounding nuptial agreements, highlighting the potential benefits for couples seeking security in their financial arrangements before marriage.
There are many myths surrounding nuptial agreements. Most often they’re viewed as documents reserved for the rich and famous, or they are deemed ‘unscrupulous’ documents that show a lack of trust in a partner.
In reality, this is far from the truth. When drafted properly, nuptial agreements can benefit many different couples. Whilst not the most romantic pre-wedding topic, it can often lead to a healthy start to a marriage by encouraging open dialogue about finances.
When discussing a nuptial agreement with a client, I acknowledge that we’re addressing what might happen if the relationship ends. However, I also emphasise that this process is an opportunity for open, frank conversations. . It ensures the couple aligns on important matters before making the legal commitment of marriage or civil partnership.
Who is a nuptial agreement suitable for?
In my practice, I work with a wide range of clients seeking nuptial agreements for various reasons. A young couple, who both have successful and established careers in their own right, may seek to ring-fence the wealth they have earnt to date. Alternatively, a client may be entering into a second marriage or may have been widowed and want to ensure they can pass assets on to their children. A client may be expecting to receive financial support or wealth from their family which they want to preserve for future generations and clients may have international connections and assets across a number of different jurisdictions.
Nuptial agreements are about putting in a place a document that provides couples with as much certainty, security and transparency as possible should their relationship come to an end in the future. They are not about getting ‘one-up’ on the other but should be viewed as an exercise where a couple can talk about each other’s priorities, what is important to them and why they may want to protect certain assets. The goal is to end up with a practical and fair document that gives a couple a road map should their relationship end in the future and hopefully avoid costly and acrimonious divorce proceedings.
Important considerations for nuptial agreements
If you are considering entering into a nuptial agreement then do make sure both you and your partner take your own independent legal advice. Solicitors are not there to treat this as a hard negotiation but rather to help the couple create a bespoke document that works for them. It is also important to ensure you leave plenty of time for the discussions and I often recommend speaking to a solicitor at least 3-4 months before any wedding.
The final point to note is that whilst nuptial agreements are not absolutely binding in England and Wales (under the current law) provided they are fair documents and a number of safeguards are in place (including taking legal advice, making sure the couple each know about the other’s finances and ensuring there is plenty of time to agree the document), then couples should expect to be held to them in the event of a future separation.
Harriet Collins is in the family and children team, advising clients on a broad range of family matters including divorce and separation, financial settlements, pre-nuptial and post-nuptial agreements and cohabitation disputes.
Get in touch
If you would like to speak with a member of the team you can contact our family and children solicitors by email, by telephone on +44 (0)20 3826 7520 or complete our enquiry form.
