Prenuptial Agreements – Should you sign one?

A prenuptial agreement is a document signed by some couples before they get married. It is intended to safeguard their assets in the event that their marriage does not succeed and ends in divorce.

There are arguments for and against prenuptial arguments. An argument against a ‘prenup’ is that by signing one the participants are preparing for a marriage to fail. The counter-argument is, however, that just as you wear a seatbelt in your car in the hope that you do not crash but as protection if you do a ‘prenup’ offers that same protection.

It is often the perception that it is rich man seeking to protect their wealth from poorer women but this is not always the case. Many women have built businesses or have other assets that need protecting. Furthermore, the parties may have children from previous marriages that need providing for in the event that the new marriage ends in divorce.

Whether you think prenuptial agreements are a good or a bad thing they require serious consideration, and good legal advice, in situations where assets may need protecting in the event that a marriage ends in divorce.