The rise in the contract contract – and why so many of us now receive a | British news Aitrend

The number of couples deciding to obtain a contract contract increases, a law firm saying that money saw requests double last year.

It is estimated that more than 20% of all the country’s married couples have signed one of these agreements.

So what are they, and why so many of us opt for one? THE Monetary team Take a look …

A quick overview of what a contract is

A contract contract is a legal arrangement taken by a couple before marrying or concluding a civil partnership, which establishes plans on how their assets should be divided if they divorce or dissolve their civil partnership.

They are not legally binding, but thanks to a historic decision in 2010, the courts should freely maintain the contractions that have been concluded.

However, the courts are still able to make decisions on a case -by -case basis, which means that the constraination that seems to have been under pressure or particularly unfairly written may not have as much weight.

Four reasons for which they have become more popular

The historic decision

The prenutes were associated with ultra rich and famous, but after the decision to Radmacher against Granatino, people became more aware of it, Charlotte Lanning told Edward’s family law.

After this decision, the take-in agreed by celebrity couples made the headlines across the country, which made them seem “sumptuous” and desirable, she said.

“When I was struggling for the first time, I was making risks on a strange occasion, while now we still have a couple on the go,” said the associate lawyer.

Marry later

Although the decision was a factor, Lanning believes that the more recent increase in the constraint contract was motivated by changes in society. People get married later and are less worried to appear not very Roman.

“The fact that people get married much later in life … means that there is more to discuss,” said Lanning, explaining that the elderly are, the more they are likely to have companies, properties or other assets.

Maman and dad’s bank

Many of its customers also counted more on the “Bank of Maman and Dad” to finance big purchases, such as the deposit on a first house.

Lanning said that this made the inequalities of wealth more obvious, putting the constraint contracts to the “foreground of people’s minds” before getting married.

Change attitudes

The Think Foundation Thinktank has been planning contracts for years, and its founder and former judge Sir Paul Coperidge told money that changing attitudes were a large driver.

“The ancient Victorian point of view was that it was bad that people are talking about what should happen when a marriage broke out when the clear intention was to stay married to life,” he said.

“I am a convert. I felt quite strongly that it was bad to start discussing divorce before marriage, but I completely changed my mind.

“People very often want to have a discussion on what should happen in the worst case.”

He explained that despite the stereotype of a rich man paying a younger and poorer woman, this was no longer the case either.

“You find that people who get married now are very financially established and have made a lot of money by themselves, and they are men and women,” he said.

“It is certainly not only applicable to men who pay women. Nowadays, it is very common to be the opposite. ”

Who signed them?

Lanning said that a typical customer was often a high net value individual, but that he became more common for young people who are online to receive a large inheritance to obtain an employment contract.

“Many of those I have done recently have been very interesting because this is more linked to the future heritage,” she said.

“One of the parties that goes will not necessarily have money, but the contract contract is to ensure that if they receive it during marriage, it is protected.”

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She explained that parents can be the engine of these agreements, many wishing to ensure that their child has their inheritance.

Then there are divorced. Lanning said that people who used their business for their divorce procedure will return when they plan to get married for the second time.

“We often see it with the second weddings, especially if the parties have children of a previous marriage or a relationship. Obviously, the older you are, the more money you have because you have had more time to build it. ”

Sir Paul pointed out that the constraination was not necessary for each couple, so people should consider them carefully before signing one.

What do they include?

An employment contract can cover a range of subjects, Sir Paul saying that he saw it in the United States which exposed bizarre requirements such as the number of times a couple must have sex.

As a general rule, it will cover goods, savings, inheritance, stocks and stocks, income, commercial interests, pension pots and bonus obligations.

In the United Kingdom, a contract contract cannot include childcare arrangements, personal questions, illegal activities or lifestyle problems.

When drafting an employment contract, Lanning said that property was the most common discord.

“This could specify that a house becomes a joint property or that it will remain separated,” she said.

“When there is not much money involved, the court will normally examine what the weakest financial party needs to come back.

“You will often have a clause which says that after a certain number of years, you can have a specific amount in Rehouse, or you can have a property in a certain area, with a defined number of rooms.

“It just provides a little structure to try to temper people’s needs,” she said.

“There is a wide range of what you can say. The interest is to try to stop the arguments later on the line. ”

How long do they take and how much do they cost?

The simple answer to the two questions is that it depends completely on the complexity of the agreement.

Lanning said that the general rule is that a employment contract should be signed 28 days before a couple get married.

She said it was “absolutely great” if people contact a lawyer about a contract contract about six months before their marriage.

“In this way, you can get the advice on what they are doing, what the process is, then many couples discuss them to decide what they want to achieve. Then they come with their practical realities, and we make it essentially legal,” she said.

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“Earlier and you risk that financial disclosure is then obsolete, which does not help.”

Sir Paul said that when he treated a high -value family family, the entire process could cost more than £ 10,000.

But in typical cases, people should think “in terms of thousands” for the final cost.

How should you manage constraint conversation?

Although people are less likely to find conversations around the slowly comfortable simmer contract nowadays, talking about money can still be difficult.

Amy Harris, legal director of the Personal Brabners Consulting Consulting, said that discussing prenups tends to be easier when the problem is family money or inherited wealth.

“A contract contract is sometimes a condition of which they received gifts or inheritances; it therefore appears less personal between the couple themselves,” she said.

“We note that having complete and frank financial discussions at the beginning of marriage can be enlightening and a good base on which to start their future together – with opening and transparency and a commitment to manage the separation also amicable.

“It is also important to remember that these agreements often work in both directions in terms of provisions which protect the previous assets from a party, which can also protect the previous assets of the other.”