Yahoo Finance What will you be including in your pre-nuptial agreement?
The number of people seeking a pre-nuptial agreement has increased over the years.
Recently, Hollywood’s golden couple Angelina Jolie and Brad Pitt split proving more than ever that an iron-clad pre-nuptial agreement is a must, no matter how perfect your relationship may seem at the time of marriage.
For those unfamiliar with the term, a pre-nuptial agreement is a contract entered into prior to marriage, civil union or any other agreement by the people intending to marry.
Although agreements are not currently legally binding in England – a judge is likely to take a pre-nuptial agreement into account when overseeing a case and is likely to uphold it.
More than anything, it is practical to have a agreement drawn up, although it will add a touch of temporariness to your marriage.
Negotiating the pre-nuptial agreement
Divorce is a messy business especially when there are kids, properties and pets involved. Pre-nuptial negotiating can often take months to negotiate.
Most pre-nuptial agreements will usually include a clause that each party will retain his or her respective property on divorce.
Children are not to be included
It is important note the custody of children will not be included in a pre-nuptial agreement. During the divorce process a court will usually have the final say about what is best for any children involved.
Pets on the other hand are considered in pre-nuptial agreements
The rise of ‘pet-nuptial’ arrangements shows how seriously people take their relationship with their pets, considering them in a similar way as they would children.
More than a quarter of people would consider a prenuptial agreement that covers their pets in case of a break-up, according to research from Direct Line Pet Insurance.
It can be tricky business deciding who gets to keep the pet.
Just one in six people say they would say that the person who bought the animal, or collected it from the rescue shelter, should be considered its owner and a mere 1 in 20 believe that the person who pays for food and vet treatment (both 4%) should be considered its owner.
The normal content of a pet-nuptial will resolve where the pet will live, how often each of the parties should see the pet, who will pay for the costs of the pet or insurance, and a multitude of other issues specific to the parties themselves
