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Prenuptual agreements soar in recession

PUBLISHED: 17:17 07 September 2012 | UPDATED: 21:50 20 February 2013

Prenuptual agreements soar in recession

Prenuptual agreements soar in recession

Once the exclusive province of Hollywood superstars and multi millionaires, the pre-nuptual agreement has filtered down the social strata and is now becoming popular at grass roots level.

Prenuptual agreements soar in recession

By Elizabeth Lacey, solicitor at Tayntons of Gloucester.

Once the exclusive province of Hollywood superstars and multi millionaires, the pre-nuptual agreement has filtered down the social strata and is now becoming popular at grass roots level.

And now, fuelled by the uncertainty of the current economic climate, we have seen a rise in prenuptual agreement business, as clients seek to protect themselves against a partners future unemployment or bankruptcy.

The news that we were going back to recession again has definitely contributed to this increase because there is so much more uncertainty about the future.

It has been said that signing a prenuptual agreement takes some of the romance out of marriage but that is not necessarily the case.

Obviously, when people get married they dont want to consider the possibility of break up and divorce. Its not unlike taking out a life insurance policy - no one wants to die but it makes sense to protect yourself and your family from that eventuality.

Like insurance, a prenuptual agreement gives us peace of mind knowing that if the worst comes to the worst we have some kind of protection and this can even have a beneficial effect on a relationship because both partners know exactly where they stand.

There can also be complications such as children from previous relationships and other responsibilities and unless everything has been considered and agreed up front, it can get very messy.

And given the very high rate of divorce today it makes sense to protect your assets, such as property, pensions, savings and even inheritances, for the future.

Couples who are not married but live together might consider a cohabitation agreement, which determines in advance how the couples assets, usually the shared property, is disposed of following a breakdown in the relationship.

We always recommend that anyone contemplating a prenuptual or cohabitation agreement should have it drawn up professionally by a qualified solicitor.

There are downloadable DIY versions but we would not recommend these. For an agreement to stand up in court, if it is contested, it must fulfil certain legal criteria, otherwise it could be worthless.

For further information, telephone 01452 522047, email or visit


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