Prenups: TL; DR
Posted on 14th January 2019 at 10:54
Your nearest divorce solicitors are still probably reeling from the dubiously dubbed “Divorce Day”; that is the first Monday back after Christmas. When couples who have been forced to spend time with one another other the Christmas break suddenly realise they want a divorce.
But; startling divorce figures are not what’s making the News this week. Your nearest Solicitors and probably Solicitors far and wide for that matter are inundated with Prenuptial enquiries following the headline news that Amazon big chief Jeff Bezos may have one big pay out on his hands.
Local family law solicitors on a whole are finding that more and more millennials are popping the prenup question before they pop the question question! A prenup or prenuptial agreement is a formal agreement that sets out what will happen to a couple’s assets, debts and belongings in the event of a split.
Garstang Solicitors, MG Legal, know that a prenup is not a legally binding document in the UK. Nevertheless; recent case law suggests that Judges are beginning to consider the terms of prenups if the following conditions are met: -
Husband and Wife both had independent legal advice before signing the agreement
There were no hidden assets when the agreement was made
Neither party was under pressure to sign the agreement and it was not entered into less than 21 days before they were married
There has been no significant change in circumstances which would make the agreement inappropriate i.e. the birth of a child
The agreement is fair and realistic
The prenuptial agreement has been reviewed, updated and amended throughout the marriage
So why all the shock and horror that Bezos doesn’t have a prenup? Well the trend seems to be that more and more millennials are seeking prenups because for starters people are marrying later so they tend to have more assets (and debt) to bring to the table when they do marry.
Furthermore; in a world where people have instant access to almost anything the temptation to stray is more present than even…millennials just aren’t all that romantic (studies show this…and also my ex boyfriends(!)), marriages don’t last as long, and people no longer feel the pressure Grandparents may have felt to stay married. Add this change in social views to a generation of people brought up by divorced parents and you are bound to have a new breed of cautious relationships.
Some say that Jeff Bezos didn’t have a prenup because he made his billions after he married but perhaps, he didn’t have one in place simply because he didn’t know about them at the time or because he never expected to be that rich.
Don’t wish you had the benefit of hindsight; contact MG Legal, your local family law solicitors, before you pop the question either by email for a rapid response firstname.lastname@example.org or via 01995 602 129. Remember we have offices on Lancaster and Preston too, and our Lancaster solicitors can be contacted on 01524 581306, and our divorce solicitors Preston on 01772 783314.
NB If you are a millennial reading this, hopefully it was short enough to keep your attention. If you’re over the age of 25 TL; DR means too long; didn’t read….. (don't worry, we had to Google it, too!).
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Tagged as: Divorce, Family advice, Family Law, Family Law Lancaster, Family Solicitors, Family Solicitors Lancaster, Garstang Solicitors, Lancaster, Lancaster Family Solicitors, Lancaster Solicitors, Marriage, Pre-nups, Pre-Nuptial Agreements, Your Local Solicitors
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