The prospect of discussing a nuptial agreement may seem daunting for a couple, but if approached in the right way it can form part of an important conversation about a couple's future together. If the party driving the nuptial agreement approaches the subject sensitively, it is likely that the other party will welcome the opportunity to discuss finances and provide greater certainty for the future.
In some cases, the other party will need time to consider the idea, so patience is required. Initial reservations are often alleviated once common misconceptions are corrected. The key is to keep the discussion positive by outlining the benefits for both sides and provide reassurance that a nuptial agreement is a document for a couple to create jointly.
If a couple can agree the central elements of a nuptial agreement before lawyers draw up the document this will help to minimise potential areas of disagreement and can pave the way for a constructive negotiation. This article outlines tips for broaching this sometimes thorny subject.(1)
Tips for broaching a nuptial agreement
The subject needs to be handled delicately as part of a broader discussion about financial planning. A conversation that begins sensitively is more likely to achieve the intended outcome.
Outline the positives Consideration should be given to the benefits of a nuptial agreement for both parties, for example, the freedom for a couple to agree on financial outcomes and provide certainty for their future.
Provide reassurance The party driving a nuptial agreement should provide reassurance that the intention is to protect the financial independence of both parties rather than one individual.
Be transparent This is the time for a couple to be completely honest with each other about their finances and what is important to them and why. Couples can use this as an opportunity to talk about expectations and intentions.
Listen carefully Couples should listen carefully to each other's opinions to avoid misunderstandings. The more a couple works on a nuptial agreement together, the more positive the discussions can be. It is unlikely that either party will have much practical experience with nuptial agreements, so a couple can learn together.
For further information on this topic please contact Joanne Edwards or Rosie Schumm at Forsters LLP by telephone (+44 20 7863 8333) or email ([email protected] or [email protected]). The Forsters LLP website can be accessed at www.forsters.co.uk.
Endnotes
(1) This article is part of a series that examines nuptial agreements in the United Kingdom. For previous articles in the series, please see:
- "Top five myths about nuptial agreements: dispelling the most common misconceptions"; and
- "Benefits of signing a nuptial agreement".
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