Rise in Prenuptial agreements among younger men


New research shows that there is a generational divide when it comes to whether or not get "prenups", with younger men being much more inclined to obtain an agreement to protect their assets in the event of a divorce.

The research carried out by Mishcon de Reya showed that men under 45 earning more than £100,000 a year are three times more likely to have a prenuptial agreement compared to men over 45. Only 5% of over-45 males have a prenuptial agreement compared to 17% of under 45s.

Approximately 40% of under 45s say they do not agree with a 50-50 division of assets in the event of a divorce with the majority saying it because they made a larger financial contribution to the relationship.

The research was carried out as the 10th anniversary of the landmark White vs White divorce case approaches; the first case where the court gave equal recognition to non-financial contributions of the wife, paving the way to increased divorce settlements for partners of high net earners.

Prenuptial agreements are recognised in the UK courts but are only viewed as one factor to consider as opposed to being definitive when reaching an appropriate settlement. This position may soon change when the supreme court delivers its judgment in the case of Radmacher vs Granatino.

Lenore Rice, a divorce solicitor at Wilson Nesbitt in Belfast commented:

"Prenuptial agreements have become more common as the idea of divorce itself becomes less stigmatised. It is no longer taboo to mention the possibility of divorce before getting married and as such couples are enjoying more freedom to analyse and reach agreements about their financial situations before committing to marriage.

"While the Radmacher judgment has still not been delivered, high net earners should seriously consider obtaining a prenuptial agreement as even the current UK case law acknowledges these in divorce cases."

Email family@wilson-nesbitt.com if you have a legal query about divorce, or alternatively you may wish to visit the divorce section of the Wilson Nesbitt website by clicking here .   

 


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