Fifth of couples who ask about a prenup never walk down the aisle

PRENUPTIAL agreements are getting more popular as couples seek to protect family wealth from a potential future split.

But figures suggest they could be more trouble than they are worth as just over a fifth of couples who consider them never actually go through with the wedding.

Some lawyers say inquiries about the agreements have risen by as much as 70 per cent over the past decade, but those who look to protect their wealth can end up killing the marriage before it’s even begun. One large law firm said that 21 per cent of engaged couples who inquired about a prenup called off the wedding after speaking to lawyers, and a further 3 per cent actually drew up the documents before changing their minds about getting married.

Sam Hall, senior partner at Hall Brown Family Law, which supplied the figures, said the agreements were serving “a valuable, practical purpose quite apart from that for which they were originally intended”.

“As opposed to offering a constructive way of dividing assets should their marriage not last the course, they are highlighting very real and serious differences before a wedding, which can actually affect the chances of a couple staying together in the long run.

“Some of those with whom we have dealt have initially expressed great regret at what happened but later acknowledged that their break-ups were less upsetting than might have been the case had they divorced,” he said. Joanne Edwards, partner and head of family law at Forsters LLP, said couples should allow enough time to draw up an agreement to minimise the stress and risk of a split.

“It is certainly true that couples considering a prenup should not underestimate how difficult the discussions can become and ensure that they allow plenty of time so that neither party feels under pressure to sign,” she said.

Different approaches can work for different couples and reduce the possibility of strife, she added.

“Solicitors working on prenups approach matters sensitively and will be guided by each couple as to whether they would sooner sit around a table and discuss matters in the open or have the lawyers do the negotiations with the clients at arm’s length,” she said.

Family lawyers have been campaigning to make prenups legally binding, arguing that some couples are put off marrying when they discover that there is no watertight way to set out a financial agreement before marriage.

Under current law, a prenup would be consulted by the courts but can be overturned if one partner successfully argues that it is unfair.

A survey published earlier this year by Forsters suggested that two thirds of family lawyers had seen a rise in the number of agreements since 2010.

Almost half of those surveyed had taken on more than six new cases in the past year and 13 per cent had taken on 16 or more. An increasing number of those entering the agreements are now between 31 and 45, suggesting that an older average age of marriage is leading to couples with more complex finances who are worried about what could happen in the event of a divorce.

Resolution, the association for family lawyers, said that “the unenforceability of prenups may in fact undermine marriage and lead to people deciding not to marry”.

70pc

The percentage rise in inquiries made by engaged couples about prenuptial agreements over the last decade