Prenups 'protect against nasty divorces'

Couples getting married probably won't be thinking about what would happen if they divorced, but planning for all eventualities is a sensible thing to do.

In an article for Moneywise Magazine, writer Sam Barrett said drawing up a prenuptial agreement before the wedding is a shrewd move.

He pointed out that although they are not yet legally binding, the courts will take them into consideration, provided they are not "outlandish".

Couples who do find themselves separating in the future can therefore avoid a "nasty" divorce by deciding beforehand how assets and financial responsibilities, as well as custody of any children, will be divided.

For those who are already married, a postnuptial agreement could be worth considering, Mr Barrett insisted.

"This agreement is usually considered when a marriage is showing signs of breakdown," he explained.

"It enables both parties to make decisions about sharing assets before everything becomes too emotionally fraught."

The Law Commission is currently examining the possibility of making prenuptial agreements legally binding and is due to publish a consultation paper later this year.

Posted by Gemma Roskell

Published on: August 24, 2010

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