Pre-nuptial or Co-habitation Agreements
It may not be as much fun as planning for your ceremony or reception but you do need to plan for your financial future both together and possibly apart.
Getting a pre-nuptial agreement could be a wise move for you. It is not just for hugely successful pop stars or multi-millionaire businessmen but for anyone who wants to preserve assets that matter to them. This could be particularly important if you are part of a family business, have set up your own company, if you have inherited money or acquired assets through your own work. It can also deal with the small but treasured items ….your personal music collection, pictures, books or your faithful pet.
Pre-nups are still not legally binding on a court so a lot of people lose interest as they don’t see the point. The law is likely to change in the next few years. Even though these agreements are not binding courts will take them into account where they have been properly drawn up and certain conditions have been met. For a Pre-nup to be effective a couple has to treat each other fairly – surely the basis of a good marriage in the first place. So the secretive guy who only lets on how much he is worth on the eve of the wedding day and demands his bride signs a documents giving up all rights to any property is not going to get very far (and Reader, would you want to marry him?).
….on the other hand, a couple who openly share information, discuss what should happen in the event of a breakdown and who do this well in advance of the wedding and without pressure will fare somewhat better. You will each need your own lawyer to make sure your interests are looked after and to ensure the Agreement is prepared in a way that is acceptable in current law.
In addition we can also deal with financial arrangements where you wish to live together but not marry. These are often referred to as “Living Together Agreements” or “Co-habitation Agreements”. It can record what assets each of you bring into a relationship as well as dealing with issues such as who pays the mortgage, household bills and day to day living expenses.