In recent years, we’ve observed a significant shift in how couples approach marriage, particularly among millennials and those entering second marriages. This shift has seen a more pragmatic approach to matrimony, where couples are increasingly turning to prenuptial agreements to secure their financial futures. At The Family Law Company, we recognise these changes and are equipped to provide expert guidance through what some are calling the “prenup season.”
The Millennial Perspective
Millennials are marrying later in life compared to previous generations, often after establishing their careers and acquiring assets. This financial independence is a key factor driving the popularity of prenuptial agreements among younger couples. Millennials view prenups not as a sign of mistrust, but as a smart financial planning tool. This generation values transparency and practicality, seeking to safeguard individual interests and responsibilities should a marriage dissolve.
Learning from Experience: Second-Time Marriages
For those considering a second marriage, the lessons learned from previous relationships are invaluable. Many second-time spouses are keen to manage their financial risks and responsibilities better, making prenuptial agreements a practical choice. These agreements provide a clear framework for the division of assets and financial obligations, which can help prevent conflicts and ensure that children from previous marriages are also considered.
What is a prenuptial agreement?
A prenuptial agreement is an agreement made by the parties before marriage takes place. It is a legal document and will create and take away rights. The family courts are increasingly moving towards enforcing pre-nuptial agreements in certain circumstances.
The type of assets to include in a Prenups:
- Property held in your sole name or in joint names
- Savings held in bank accounts
- Premium bonds
- Inheritance
- Stocks and shares
- Pension pots
- Business interests
At The Family Law Company, our team of dedicated specialists supports couples in navigating the complexities of prenuptial agreements. Whether you’re a millennial looking to protect your financial future or you’re entering a second marriage with prior obligations, our approach is tailored to meet your unique needs.
If you’re considering a prenuptial agreement during prenup season, or just want to learn more about your options, contact us today.
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