Before entering into a prenuptial
or postnuptial agreement, it's important to consult with a financial advisor and family or estate planning attorney to determine the best course of action.
This seems a clear indication that the courts will up-hold Prenuptial
agreements, although of course each case is dealt with on its own particular facts.
Spouses are often afraid to question a prenuptial
agreement because they do not want to be perceived as marrying for money.
Tamara Smith, of Contact Law, comments: “Although it's traditionally expected that men are the instigators of a prenuptial
agreements, our survey shows that women are becoming increasingly aware of the necessity to protect themselves as best they can.
When asked what advice he would give to young Britons going in for prenuptials
, Mohammad Riaz, Senior Solicitor, Consultant and Practice Manager at Musthafa and Almana law firm, said: "It depends on the assets they have accumulated.
Our only cautionary note is that there is some concern that legally binding prenuptial
agreements could lead to one partner benefiting and another being left penniless.
I'm sure it's often the case that the person being asked to sign the prenuptial
agreement (usually the person in a worse financial position than their partner) can be made to feel like their partner doesn't trust them or that, by mentioning a prenuptial
agreement, their partner is implying that they are only marrying for money.
In Bulgaria, prenuptial
agreements are signed most often in cases when the husband is wealthy and older, the notaries public say.
Unlike in the United States, where prenuptial
deals have long been recognised, these agreements are not yet enforceable in Ireland but they are taken into account by the courts.
There is often a view expressed that a prenuptial
agreement is only applicable to the rich and famous.
While asking your sweetie to sign a prenuptial
agreement before the wedding isn't a very romantic notion, such an agreement can be a critical tool in asset protection--and it's one that every business owner should consider.
Part I discusses prenuptial
and postnuptial agreements in the context of relationship dissolution planning.