Prenups are becoming much more common, and reflect the increasing willingness of younger partners to consider the financial ramifications of the legal contract of marriage. Disclosure of finances can still be a problem – without which it is very unlikely that a prenup will be upheld by the courts. If you do not want to reveal your finances to your intended- perhaps you should reconsider the decision to marry!
When Debbie and Michael Williams, 58, of south Wales got engaged in 2014, they decided to get a prenuptial arrangement. Most people probably associate a prenup with celebrities in the Hollywood hills rather than the Welsh valleys, but the Williams believed it was sensible. “I didn’t feel it was unromantic; it was just something we did for very practical reasons,” says Debbie.
Their financial circumstances were a little unusual; Debbie already owned a house, Michael also had a property in his name, and they were planning to buy a home together in the future. But Michael had also won £1.4m on the lottery. Both had children from previous relationships who they wanted to protect – were things to turn sour down the line.
“Michael had two children,” says Debbie. “I also have two children, so we just thought it best to cover ourselves and our children in the event of the relationship not developing in the way we hoped.” Both saw it as a smart decision rather than an emotional one for their union.
Now, nine years later, Debbie says she doesn’t think about it. “To be honest, I often forget it’s there, especially as time goes on. I can’t see us ever needing it, but it’s there in case we do.”
