Did you say ‘Yes’ this Valentine’s Day?
Valentine’s Day is typically known as being the most romantic day of the year. It is a day where couples celebrate love, share romantic gestures, and many even plan to pop the big question.
Taking the next step in a relationship can be exciting, but it can also bring additional responsibilities and obligations. Planning for your future shouldn’t just include planning the wedding, you should also consider the legal implications of marriage.
In the UK, more and more couples are waiting to marry, with the average age being 31. At this stage, many individuals are coming into the marriage with significant assets, and can be vulnerable should a separation occur, and such assets have not been protected. It is therefore advisable for parties to plan for their future with a Pre-Nuptial Agreement.
Whilst a Pre-Nuptial Agreement is not legally binding in the UK, the document will hold considerable weight when determining whether such should be upheld, on the basis it is fair, and was entered into freely by both parties. A Pre-Nuptial Agreement can provide significant protection against current and future assets, along with providing clarity (and a lot less stress) should parties separate, as discussions as to how assets are to be divided have already taken place and recorded in the Agreement.
When parties marry, they obtain financial ties to one another, leading to possible financial responsibilities post separation. Having a Pre-Nuptial Agreement in place will allow both parties to feel confident of their position, without the fear of uncertainty.
Planning a wedding is exciting, but planning your financial future is just as important. Should you wish to discuss your circumstances, contact our friendly Family Team on 01270 611106 / cprice@bowcockcuerden.co.uk to arrange a free, initial 30 minute consultation.
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This article is not intended to be comprehensive or to provide specific legal advice. It should not be relied upon in the absence of specific advice given in relation to particular circumstances.
