Edinburgh: 0131 500 0277

Midlothian: 0131 500 0272

Edinburgh: 0131 500 0277

Midlothian: 0131 500 0272

SOLICITORS AND ESTATE AGENTS

Are prenups just for the Royals?

The 19th May is a date firmly in the diaries for many people. Although they may not have cracked an invite to Meghan Markle and Prince Harry’s big day, many will be tuning in to the national event. And going forward we will follow their lives with great interest and wonder.

It has been estimated Meghan’s net worth is approximately £3.7m, and with an income of approximately £333k. While this is not an insubstantial amount, the sum pales in comparison to Prince Harry’s net worth which is estimated at £29.6million, and there is much speculation as to whether a prenup arrangement is likely to have been discussed.

A prenuptial agreement is a contract entered into prior to marriage or civil union. The content of a prenuptial agreement can vary widely, but commonly includes provisions for division of property and spousal support in the event of divorce or breakup of marriage.

Prenuptial and cohabitation agreements are not just reserved for the Royals or celebrities today. Unfortunately, as much as we would like to believe that all marriages will have fairy tale forever endings, many do not, and it is becoming more and more common for ‘normal’ couples to make a prenuptial agreement. Marital relationships can be filled with trust issues, infidelity, financial problems, physical and emotional abuse, and substance abuse. This is why a prenuptial agreement may be worth considering. They can set up specified protections for both couples and are especially useful when considering inheritance and assets.

If you are interested in protecting your assets before entering a marriage, then get in touch with our family team. It’s often prudent to have some kind of arrangement made, and this can apply to entering into cohabitation agreements also.

Sometimes life doesn’t turn out as planned. Whatever the circumstances of your divorce or separation, or whether you are simply planning for the future, our family law team has a wealth of knowledge and experience to help you.

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