Aren't Prenups Only for Celebrities?
Many celeb couples believe that a prenuptial agreement or 'prenup'
is a staple in their pre-marital decisions. Often, both parties already have a hefty fortune which they want to protect in the eventuality of a split
. But why would you need a prenup?
Why Would Anyone Get a Prenup?
Kim Kardashian and Kanye West, both with their own fortunes, are said to be thrashing out the content and specifics
of their prenup. Rumours are circulating about a second child clause, a cheating clause and Kim wanting a guarantee that Kanye will participate in a TV series featuring the couple.
Because of the use of prenups by wealthy, famous couples, containing exotic clauses, many people believe that prenups are not for them. But, when looked at from a base level prenups can be used by all couples
, for the protection of money, property or to ensure that if you split everything will be dealt with in an equitable fashion. Prenups can also be used to make arrangements during the marriage
, not just for if the marriage breaks down.
Why Should I Get a Prenup?
There are a number of reasons why you should consider getting a prenup.
These include protecting an inheritance
that you may have been given. If you move to your partner's country of residence outside of the UK, the laws on how a couple split their assets after a break up may differ. By agreeing beforehand, you can bypass any unfavourable laws.
A common use for a prenup is to provide a basis for child residence and maintenance
. Often, when a couple splits arguments occur over whom the children should live with and how much money should be paid in maintenance. Disputes such as this often take a long time to resolve, especially when the parents have split on bad terms. A prenup can go some way to alleviating this problem
, by setting down a fair and equal solution while a potentially hostile situation is occurring.
One major reason that people may decide a prenup is for them, is if one partner commits adultery – if this happens a forfeit may be put in place
such as money or other assets. Although adultery as a reason for divorce is on the decline that does not mean it doesn’t happen.
Many couples, particularly in second marriages after a messy divorce may find this provision a necessary one.