Why post-nups can provide vital protection.
Posted: Wednesday June 19 2019
By: Anthony Ball
A growing increase in South Yorkshire couples seeking post-nup agreements reflects their acceptance as a contract which provides protection and clarity. The document, which can be drawn up any time after tying the knot or forming a civil partnership, details how assets and property should be split should couples divorce or separate – or if one partner dies.
By Antony Ball – Keebles Family Law
Couples, particularly those over 50, set up these agreements for many reasons. They may have been unaware that pre-nups existed before they were married or may have been unable to arrange one.
Husbands and wives opt for a post-nup when circumstances, such as one partner standing to inherit property or money, change or if one of them is asset rich and concerned about protecting their share in any division of property.
We also find that planning for the future takes a higher priority for older couples who are affected by changes in personal finances and pension reforms which now allow the over 55’s to take their pension allowance as cash rather than as an annuity.
A post-nup makes it more likely that wives, who have stayed at home to bring up their family, are more likely to receive a share of their spouse’s pension. Men on low incomes or ‘house husbands’ whose partners are well paid career women can be similarly protected.