Jennifer Lopez and Ben Affleck had no PreNup!

Jennifer Lopez and Ben Affleck may not have had a Prenuptial Agreement, but you should consider one

Jennifer Lopez and Ben Affleck's recent decision to initiate divorce proceedings might not have shocked many, but what did catch attention was Lopez's divorce petition, which notably lacked any mention of a prenuptial agreement.

What is a Prenuptial Agreement?

A prenuptial agreement, commonly referred to as a 'prenup,' is a legal document prepared between a couple before marriage that outlines how their assets will be divided if they divorce. Essentially, a prenup clarifies "who gets what," but there are many factors to consider before agreeing to one.

The main purpose of a prenup is to provide clarity on asset division should the relationship end. While prenups are often associated with the wealthy in the US, rising living costs and financial pressures are leading more couples in the UK to think about their financial arrangements before marriage.

Are Prenuptial Agreements Legally Binding?

In the UK, prenups are not strictly enforceable by law. However, the significant case of Radmacher v Granatino in October 2010 has influenced UK courts to give substantial weight to prenups. Courts are generally inclined to uphold them if they meet a certain criteria:

• Signed at least 28 days before the wedding,

• Contain reasonable and current terms,

• Agreed to voluntarily by both parties,

• Drafted by a family lawyer, with both parties having received legal advice and provided full financial disclosure.

Although a judge’s decision on financial settlements can never be completely predicted, a well-drafted prenup can help reduce uncertainty.

Why Consider a Prenup?

A prenup might be worth considering in the following situations:

• Significant disparity in wealth between you and your partner

• Anticipation of future wealth or inheritance for one party

• Existence of a business that needs protection

• One party has considerable debt

• Either party has children from a previous relationship

• Ownership of property acquired before the relationship

Although prenups can be seen as unromantic or pessimistic, they can prevent potential disputes, save time, and reduce expenses. Think of them as a form of insurance. To avoid complications like those faced by Jennifer Lopez and Ben Affleck, get that prenup!

Already Married?  What is a Postnup?

If you’re already married and want to establish terms for asset division in case of a divorce, a postnuptial agreement might be a suitable alternative. A postnuptial agreement serves a similar function to a prenup but is signed after the marriage.

 

How Can We Help You?

If you require and help in connection with your relationship prenup or postnup …… with someone who's completely independent and unbiased, please do talk to us. We're here to help and advise you. You can rely on our experience and expertise to put you on the right course of action, a path that's totally right for you.

Get in touch today. We want to help.

 

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