Why Should I Get a Pre-marital or Pre-Civil Partnership Agreement?
In the past ten years, there’s been a 70% increase in the number of couples exploring the idea of pre-marital/pre-civil partnership agreements. But what is a pre-marital/pre-civil partnership agreement? What are the benefits and why should you consider one?
A pre-marital/pre-civil partnership agreement gives couples an opportunity to reach a financial understanding, from the outset of the relationship. By defining how joint and individual assets, income and pensions will be divided between the parties in the event of separation or divorce, both parties’ interests/red-lines can be taken into account. It saves uncertainty, stress, and heartache down the line, in the (hopefully unlikely) event that the relationship breaks down.
The purpose and aim of these agreements is to protect both partners’ interests and, with this, many benefits can stem from investing in them, some of which are:
Pre-marital and pre-civil partnership agreements are designed to avoid battles and conflict, and eliminate the stress and anxiety that could follow.
Simple and Straightforward
It is a simple and straightforward process, and gives the couple absolute control over their own financial destiny.
There is no need for expensive court proceedings if a pre-marital or pre-civil partnership agreement has been signed which means significant savings on lawyers fees can be made.
Peace of Mind
Peace of mind can be achieved by both parties, as these agreements act as an insurance policy for future problems. As with all insurance policies, this allows you to sleep more easily at night, knowing that you are covered.
Whilst these documents are not legally binding, they do provide greater control for couples over how their assets are divided. Over recent years, Judges have been paying closer attention to pre-marital/pre-civil partnership agreements, especially when both partners have received legal advice during the process. Because of this, pre-marital and pre-civil partnership agreements are one of the most popular methods of protecting the assets and interests brought into a marriage or civil partnership.