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Why a prenuptial agreement is essential

The society in which we live, is unfortunately one in which, marrying for convenience or financial gain is on the increase. Divorce - even in the most amicable of circumstances - can be financially devastating.

With Britain being amongst the most generous jurisdictions in the world when it comes to favouring the weaker party In the event of a divorce. The need for a prenuptial agreement is absolutely essential. It is an easily drafted documented that can fully protect your assets should the marital union be broken.

The Pre marital agreement or "pre-nup" as it is more commonly known, has often been snubbed by particularly wealthy individuals especially. For fear that by asking for such a legislation to be enforced, gives the impression that your future spouses intentions are somewhat unjust. This however doesn't have to be the case.

It can also be put in place to ensure that the spouse gets certain assets of their choice, or that in the event of infidelity different rules apply. It is merely a way of protecting the relationship and avoiding costly legal fees in the event of a parting of ways.

The need for protection is further amplified today, with news of a proposal to give more equality and rights to co-habiting couples. This shock news would mean that marriage is no longer essential to bag a share of a partner's wealth after a break up. Providing you have lived with a partner for two years or more and/or have a child together you could be entitled to a share of all property and household wares, in the case that you have contributed to them in some way. I.e. made payments toward the mortgage/utility bills.

Although this proposal clearly states that no partner has the right to financial gain unless united in marriage. It will inevitably spark fury. It may be seen as a supposed shun on the sanctity of marriage giving co-habiting couples similar rights without such commitment. But surely it should also beg the question that rather than leaving yourself open to such a fate. Would it not pay you to simply prepare for it?

After all many couples will opt to remain single but co-habiting in an effort to avoid such a commitment, but with all this looking set to change it looks as though prevention could indeed prove to be better than the cure.







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