Almost a third of Britons would refuse to get a prenup, arguing they ‘show a lack of trust’, research suggests.
A survey by Graysons Solicitors found that 30.6% did not agree with getting a prenup before marriage, citing issues of trust, while a further one in eight (12.3%) said it was not a romantic way to begin married life.
Looking at the generational divide, the data shows that more than twice as many people aged 45 to 55 were worried about trust, compared with those between the ages of 18 and 24.
In fact, the practical-minded Generation Z were the most likely to agree with prenups because ‘you never know what the future holds’. Only half as many people aged over 55 gave the same reason.
Younger generations seem to be more aware of the possibility of divorce. Many have grown up with divorced parents and have seen how ugly it can get without a fair plan in place.
A prenup doesn’t have to be unromantic. Having this discussion before getting married can show that the relationship is strong enough to withstand difficult conversations.
While prenups have become more popular in recent years, over a quarter of those (26.6%) who responded to the survey did not know what one was.
A prenuptial agreement sets out what would happen to each spouse’s assets (e.g. property, money, businesses, pension pots) if the relationship were to break down or end in divorce.
More young people than ever before have side-projects and start-up companies they hope to turn into a full-time career one day and may want to protect future earnings.
Many couples are also prioritising their careers before settling down so already have assets to protect before marriage.
If either partner has children outside of the relationship, a prenup can protect their inheritance rights and ensure particular assets are reserved for them.
Clauses can also be inserted into a prenup to prevent one spouse from being responsible for any debt their partner has acquired before the marriage.
Although marriage is a celebration of love, it also comes with several legal consequences which I think more people are taking into consideration before making this commitment.
About Bradie Peel
After undertaking a degree in law and criminology (BA Hons) and her LPC at the University of Sheffield, during which time she also worked as a clerk at a criminal law practice, Bradie started her legal career working as a paralegal in the field of crime in 2006.
However, during her legal training contract, she also carried out family law work and, finding it interesting, took up a dual role as a police station representative and family lawyer in 2010. Bradie has specialised solely in family law now for a number of years.
With significant experience in family law, Bradie deals with the whole spectrum of legal issues that affect families, including divorce, separation, finances, injunctions and children matters.
Bradie is also able to advise on pre and post-nuptial agreements, separation agreements and cohabitation agreements. Having worked throughout South Yorkshire during her career, her empathy and dedication to her work have led to a loyal following of clients.
Bradie has particular expertise in dealing with the specific issues that arise during complex and high net worth divorce, including business issues, pensions and international considerations.
Bradie is recommended in the Legal 500 2020.
She is a member of Resolution and, confident and experienced in standing up in court, carries out most of her own advocacy. Bradie is also on the Family Law Panel, which works exclusively with Resolution members. She is also highly rated on the independent website, VouchedFor.