- April 29, 2021
- Posted by: Alana Hodgins
- Category: News
Guest Blog by Shanahan Family Law
A pre-nuptial agreement (known as a Binding Financial Agreement) is becoming more and more the norm for couples who are wanting to form a long-lasting relationship whilst also thinking with their heads and protecting their assets. It could be considered like insurance, you may not want it but if the time comes to claim, then you’ll be so glad you have it.
Any couple who brings personal or business assets to the marriage can benefit from a prenup. The most basic of these contracts lists an inventory of premarital assets that in the event of a divorce will remain the property of their original owner.
Pre-nups are good because they preserve the expectations of the parties and prevent surprises in a property trial; although at the time of planning a ‘forever after’ that may be the last thing on your mind. The agreements can specify that future income from a business or additional asset accrued through inheritance are not to be shared if the marriage ends.