To sign or not to sign?

By Winnie Chow – Collaborative Practitioner, Solicitor, Partner

The champagne has popped!  One was on a bended knee and the other one has said yes.

 Just when you thought you are off to happily ever after, an awkward question arises…. what happens if it is not?

 Broaching the subject of a Pre-Nuptial Agreement should come with an emotional health warning.  A cynic may say it is looking at the demise of a marriage before it has even started.

 But the cautious may say that it is prudent to provide clarity on how finances will be managed should the marriage not work out. 

 The most common reasons for parties seeking a Pre-Nuptial Agreement are:-

 -       preserving existing pre-marital wealth;

-        preserving potential inheritance or providing for family legacy planning, sometimes initiated by the parents of the couple;

-    securing financial support for children from a former relationship, or other vulnerable family members being cared for by one of the parties;

-       managing expectations and avoiding nasty, costly and emotionally draining divorce litigation should the marriage unfortunately breaks down.

 There are many reasons why a party may or may not want to enter into a Pre-Nuptial Agreement.  The best way of dealing with such a topic is to be open and honest with each other about their thoughts on the matter, and this provides an opportunity for the couple to learn to communicate, and deal with difficult or awkward subjects right from the start.  This, in turn, will pave the way forward in building a positive foundation for the marriage to come.  A good way of engaging in this dialogue is via Collaborative Practice, where the team (particularly the lawyers), are trained not to be adversarial and instead, all members of the Collaborative Practice team essentially share one joint goal, which is to achieve an amicable resolution for the couple.

 If you believe a Pre-Nuptial Agreement may be suitable for you and you want to have it resolved sensitively so attention can be focused on the happy day, feel free to contact the CRB team to see how we may be able to help.