What is more romantic than protecting your future? While discussing the end of your marriage may not be the most romantic thing, it is necessary to protect your future.
One of the largest misconceptions is that a post-nup is only for the rich and famous. This is not the case, a pre-nup is here for anyone who wants to protect their assets.
There is no amount of money you must make in order to qualify for a post-nup. If you have assets you want protecting, a post-nup is an excellent option.
A post-nup is the same as a pre-nup in many ways, except for one: a post-nup is signed after you have said ‘I do’, whereas a pre-nup is signed before.
Post-nups offer couples clear lines on how their assets, debts and property will be split in the event of a divorce.
While a post-nup is not a legally binding document in England and Wales, should you and your partner divorce, so long as they have been prepared correctly, they can hold significant weight in the courts.
The conditions that lead them to hold weight include:
People decide to get post-nups for all sorts of reasons, some of the most common being that the couple have split up and decide to reconcile, one partner receives a large inheritance or one party gives up work to raise a child.
It is important to remember that there is no ‘right’ reason to get a post-nup. Each situation is entirely dependent on your own and your partner’s individual needs.
Contracts generally include provisions on how assets will be split. This can include the family home, savings, investments, businesses, inheritances and other significant assets.
A post-nup can also set out how debts and other financial responsibilities should be dealt with, helping both parties understand where they stand should the marriage come to an end.
However, a post-nup is not simply about deciding who gets what. For many couples, it is about having an open conversation about finances and agreeing on a plan that works for both parties.
All couples’ circumstances are different, which is why your agreement must be tailored to your individual circumstances and reviewed as your situation changes.
At Hethertons, we understand that talking about what happens if your marriage ends can feel uncomfortable.
Our family law team can help you understand whether a post-nup is right for you and your circumstances.
We can guide you through the process, help you understand your options and ensure your agreement reflects your wishes while taking into account the needs of both parties.
Get in touch with our team today to discuss post-nups.
