Prenuptial agreements and why you might need one
You may want to consider having a prenuptial agreement if you’re thinking of getting married and you have a particular asset or assets that you would like to protect in the event the marriage broke down. Another reason people sometimes want pre nups is if they are getting married for a second time and there are assets they have received from a settlement under their first divorce that they want to protect and they want to protect themselves in the event of a second marriage breaking down.
Another reason people sometimes want pre nups is if they are perhaps a widow or widower and are trying to protect assets that have come from their deceased spouse perhaps for their children. A further reason people sometimes want a pre nup is if they are concerned that if the marriage breaks down they are going to end up spending a lot of money on lawyers fees and end up in a costly lengthy Court battle, a pre nup can regulate what happens in the event the marriage breaks down and can potentially limit the scope of a dispute in the future. Another reason for pre nups is sometimes people have a family business which they would want to protect in the event the marriage breaks down and a final reason people sometimes ask for prenuptial agreements is where there is a large disparity between the financial positions of the two parties involved and they want to regulate what will happen in the event the marriage breaks down.