Posted by Patrick Hart, Partner
On 1 September 2016 Withy King LLP merged with Royds LLP. The trading name for the merged firm is Royds Withy King. All content produced prior to this date will remain in the name of the firms pre-merger.
Changing view regarding pre-nuptial agreements
A new study suggests a growing number of young people would be open to the idea of signing a pre-nuptial agreement.
Research published this month revealed that more than half of under 35’s thought that the arrangements were a “completely normal” consideration before tying the knot.
Around a third of those surveyed said they would be happy to sign such an agreement.
Only 17 per cent found the idea “offensive”.
The response shows a shift in attitude towards pre-nups in the UK; for a long time the idea was far more familiar in countries where the agreements carry legal weight.
Common reasons people gave for considering pre-nups included:
- A desire to protect their assets or those of their parents
- Concern that their partner was not very good with money
- The fact that they had lost out following the end of a previous relationship and wanted to avoid something similar happening again.
Only one in four of the 3,125 respondents agreed with the statement that pre-nups were the sole preserve of the rich.
But the survey suggests that despite an overall softening of attitudes, there remains a generational divide.
While the under 35’s may be increasingly comfortable with the agreements, the over 55’s remain more conservative in their views. Only 17 per cent of people in this age group would be comfortable entering into such an arrangement, still believing them to be “unromantic.”
The Law Commission signalled earlier this year that the agreements should become legally binding in the UK, although only once the needs of a separating couple and their children had been taken into account.
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