Engagement ring? Check. Build-To-Order (BTO) flat? Check check. Wedding venue and guest list? Check check check. Prenuptial agreement? Hmm … maybe?
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A prenuptial agreement – or a prenup – is a legal document which a couple draws up before their marriage to decide how they should divide their assets in the event of a divorce.
Let’s say you have a family inheritance to protect. Having a prenup can act as a form of insurance to ensure your inheritance, be it property or the family business, remains yours – and yours only – in the course of the marriage.
And if you plan to eventually give up your career and become a stay-at-home mum, a prenup may work to your advantage and ensure that you will still have an income should a divorce happen.
Of course, it can be tricky and sensitive to think about divorce – especially in the weeks before the wedding, where you’d rather be discussing honeymoon plans or whether it’s worth upgrading your wedding menu. But it’s also important to protect yourself from “acrimony, expensive legal bills and drawn-out court proceedings that would inevitably arise from a contested divorce”, said Ivan Cheong, a partner in the divorce and family team at Withers KhattarWong.