Brits 'to take out more pre-nups'

16/10/2009

British couples are likely to become more wary about protecting their cash in the recession - and will demand prenuptial agreements in increasing numbers.

A poll from financial website Unbiased.co.uk revealed that 66 per cent of solicitors believe that the number of people looking to strike the deals prior to marriage will increase over the next five years.

Meanwhile, just two per cent think there will be a decrease in the deals.

Prenuptial agreements can represent a good solution for couples looking to protect their individual assets in the event of a divorce.

This is because they can lessen the risk of one of the couple being pushed into financial difficulties by a divorce settlement, potentially leading to debt problems.

The Law Commission is also currently reviewing whether or not prenuptial agreements should be legally binding, while the Conservatives promise to enter the agreements into UK law if they get elected.

Karen Barrett, chief executive of Unbiased.co.uk, said: "With current divorce rates and highly publicised divorce cases making front page news it is not surprising that more people are looking to protect their assets ahead of getting married.

"While prenuptial agreements are not currently legally binding it is looking increasingly likely that they could be in five years time so some may feel it worth getting these agreements in place now just in case."

Unbiased.co.uk also found that over four in five (82 per cent) of solicitors believe that prenuptial agreements can help protect assets.

Tags; Budgeting Advice, Recent Graduate Debt, Young Family Finances,

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