How to approach the conversation around pre-nuptial agreements on Valentine’s Day?
Valentine’s Day is a time to celebrate love, romance, and the bond you share with your partner. While it might not seem like the most romantic subject to bring up on this special day, discussing a pre-nuptial agreement is an important step to consider before walking down the aisle.
In fact, approaching this conversation with openness and mutual respect can actually strengthen your relationship, enhance trust, and ensure that both of you feel secure and protected for your future. Whether you’ve just received a proposal, or are in the middle of wedding planning, taking time to talk about practical matters like a prenup before the big day can help build a strong foundation for your future together.
What is a pre-nuptial agreement?
A pre-nuptial agreement is an agreement entered into before marriage, which outlines how a couple wishes to deal with their assets and finances in the event of divorce. A post-nuptial agreement serves a similar purpose, but is made after the marriage. Although pre-nups are not automatically binding, case law demonstrates that the court will give effect to agreements that are freely entered into by each party with a full appreciation of its implications, unless it would be unfair to do so. Both parties should exchange financial information and obtain independent legal advice before entering into an agreement.
How can a pre-nuptial agreement benefit both parties?
A pre-nuptial agreement can be incredibly beneficial for both parties, by providing financial clarity and security as you enter into marriage. The requirement for both partners to provide a schedule of financial disclosure can encourage healthy communication and transparency around money and finances from the outset, to combat one of the most common sources of tension in modern relationships.
If either party has substantial assets such as a business, property, or inheritance, a pre-nup can help ensure that these assets remain protected in the event of divorce, by identifying from the outset that these assets are to be ringfenced and kept separate from the marital property. However, contrary to popular belief, pre-nuptial agreements are not limited to only protecting the wealthy partner and can offer protection, fairness, and financial security to the less affluent spouse through ensuring there will be provision for them in the event of divorce.
Pre-nuptial agreements also provide parties with the opportunity to establish expectations from the marriage early on, and can reduce the emotional and financial stress if things don’t work out by minimising disputes and conflict in cases of divorce. Planning for all eventualities is particularly important if you have or intend to have children in the future.
How to approach the conversation?
Timing is crucial when discussing a pre-nuptial agreement. Choose a calm, relaxed moment for the conversation. Avoid bringing it up during stressful times, especially as your wedding day approaches. The goal is to have a thoughtful, productive discussion, so don’t wait until the last minute or let wedding planning overshadow the conversation. To ensure timing is not an issue, pre-nups should be signed no later than 28 days before the wedding. These agreements also take time to prepare, negotiate, and finalise, so starting the discussions as early as possible is important.
Frame the agreement in a positive light, emphasising how it can help remove potential stress and uncertainty in the future. Approach the discussion as a way to set clear expectations for handling finances and assets, ensuring both of you feel secure, protected, and understood from the start.
Be open, honest, and transparent throughout the conversation. Show respect for each other’s views and make it clear that the goal is to protect both of you, creating a sense of mutual security. This proactive approach helps both partners feel more confident about the future.
Finally, once you both agree to consider a pre-nup and have commenced discussions in relation to the agreement, it is essential that you each obtain independent legal advice. A legal expert will help draft an agreement that works for both parties and ensures fairness, increasing the likelihood that it will be upheld by the court.
How Moore Barlow can help
Our expert pre-nuptial agreement solicitors can provide you with comprehensive legal advice and guidance to help you protect your assets and finances in the event of a divorce. We understand that every situation is unique, and we will work with you to create a tailored agreement that meets your specific needs and goals.
