Deciding to get married can make you feel like you are on top of the world, and you may feel like that well-known honeymoon period will never end.
However, in the unfortunate case that the marriage does break down, have you considered how you will be impacted?
Whether to get a prenuptial agreement, colloquially known as a prenup, is a sensitive subject to broach, but it may be in your best interest to protect your assets.
What is a prenup?
Before deciding whether a prenup is the right choice for you, you must fully understand what it is and what your obligations are should you decide to go ahead.
Essentially, a prenup is a contractual agreement that is agreed upon and signed before you get married.
This can cover things such as how your savings, property, possessions, pensions, and so on, will be divided in the case of separation.
The agreement can also include scenarios on future assets or wealth that is acquired during the course of the marriage.
It is important to note that prenups are not legally binding in the UK, but in the case of a divorce, they can be a good point of reference for judges if you cannot come to an agreement yourselves.
Is a prenup the right decision for you?
Of course, getting a prenup will not be the best decision for some people, and whether one is required is subjective.
In the circumstance that you and your partner bring varying levels of wealth into the relationship, a prenup can be used as a device to protect both parties if you do split up.
A prenuptial agreement may also be useful if you, or your partner, own a business, or have children from a previous marriage and would like to protect their inheritance.
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