05 Jan Do prenups make divorce easier?
Over 30 million UK adults believe that prenups make divorce easier according to new research.
The thing is that is definitely nothing romantic about prenups and so couples will shy away from the topic, especially whilst in the honeymoon phase of their relationship. When you are planning your wedding you are focusing on the happily ever for your relationship, not the worse case scenario.
However marriage is not just about love, family and fairy tale endings. There is a business side to marriage as you are entering into a financial arrangement as well.
For those who bring assets, wealth or a higher income to the partnership a prenup is worth considering, even more so if they have children from a previous relationship. It offers you protection and a sense of security for the future. It also provides clarity for both partners on what the future holds financially.
It is not an easy subject to broach and many don’t want to take the risk of jeopardising their relationship. However you can make your prenup work for both of you. By working together to ensure both parties have a settlement that they would be happy with should the marriage come to an end it can set the tone for an open and honest relationship.
The survey by Co-op also found that almost a third of those planning to get married would consider having a prenup, as well as that 60% think that those who went through a divorce are more likely to have a prenup when remarrying.
Many clients I see in my divorce coaching clinic tell me they would definitely ask for a prenup if they ever get married again. My advice is to mention your views on prenups early on in the relationship. If it’s important to you then you need to make sure your new partner understands your reasons and intentions behind it and doesn’t see it as a threat to the future of your marriage.
It’s easy to understand why so many UK adults believe that prenuptial agreements predict divorce. By implication it means that you are considering that you may not be together forever. However in this day and age when divorce is at 42% of 1st marriages and rises for your 2nd and 3rd marriage it is a statistic that cannot be ignored.
There will be many tricky conversations to be had during a marriage and times when you don’t agree. It’s best to see how you will both deal with these situations before you walk down the aisle then live to regret it.