Are you in the middle of organising your wedding? Among the decisions about the final guest list and catering requirements, there are also some longer-term decisions that you may want to make before your big day. 

Disclaimer: This post is a collaboration

One main consideration for some couples before they walk down the aisle is whether they need a prenuptial agreement. This can be an important step in the pre-marriage process. If you are wondering if this type of wealth protection is for you, here’s a look at what a prenup is and why it might suit your circumstances. 

What is a prenup? 

A prenuptial agreement – or a prenup – is made before a couple gets married or enters a civil partnership. It’s designed to be an official confirmation of how they want to divide their pre-marital assets if they separate. 

This is becoming an increasingly common consideration for couples. According to a 2023 YouGov poll, many Britons(42%) see pre-nuptial agreement as a good idea. 

If you take out a prenup that meets the qualifying criteria set by the Supreme Court, it’s presumed that it will be upheld. But they’re not automatically enforceable in courts in Wales and England, so it’s important to be aware of this if you’re taking out this type of agreement. 

Family lawyers will talk you through this and can help draftand review the agreement. They’ll ensure that it meets your requirements and complies with UK law, making it more likely to hold up in court. 

Protect your pre-marital assets

While there’s a chance it might not be upheld by the courts, a prenup is still a worthwhile addition to your pre-wedding plans if you want to protect your assets. It sets out how you divide any properties, businesses, investments, and any savings you both have in place before your marriage or civil partnership.

By agreeing on how everything will be shared if you separate, you’ll know exactly what you’ll take away at the end of the marriage. A prenup also protects your future investments should the landscape change. For example, even if the value of your property increases, this will still be yours and your ex-partner won’t be able to go after half of it in a divorce settlement. 

Other reasons to consider a prenup

While the main advantage is that a prenup protects your assets, there are other reasons why this could be a beneficial approach to managing your finances: 

– Providing for children from previous relationships

If you have children with a previous partner, taking out a prenup can protect the assets and inheritance earmarked for them. It ringfences these finances in a way that means your new partner can’t touch them in the event of divorce. 

– Avoids lengthy legal disputes

The divorce process can take a while and disagreements aboutthe division of money and assets are often the main holdup. A prenup makes this transparent and smoots the way for your lawyer. 

– Saves money

A shorter divorce process saves you money. Divorce can be expensive, but if you can speed things up, you won’t requirelegal services to finalise who gets what. 

Even if you don’t foresee a breakup, this can be a savvy move that provides peace of mind.