Parents ask for prenup on behalf of newlyweds, report says

divorce-settlement

Although prenuptial agreements are often used to protect an individual’s wealth following a divorce, a new report has revealed that more and more couples are facing pressure from their parents to protect their inheritance and sign a marital arrangement.

Experts suggest that the number of couples asking for a prenup has doubled in a year, and has more than quadrupled since the courts first legally acknowledged them around six years ago.

With no way to get onto the property ladder, couples will often turn to their parents to ask for help with the deposit – which can easily run into the tens of thousands. The parents will then press for a prenuptial agreement in a bid to protect their portion of the deposit, experts say.

A study earlier this year suggested that more than 250,000 sets of parents help their children buy somewhere to live every year, paying out an average of £17,500 a time.

In the UK, Judges do not necessarily have to following the terms of a prenuptial agreement when they rule how wealth will be split following a divorce. However, since a Supreme Court ruling in 2010, which saw a Judge follow the terms of a prenup, they have carried greater legal weight.

Share this post: Tweet about this on TwitterShare on FacebookShare on LinkedInShare on Google+