Family
Marriage to be made more accessible – but couples must consider their finances
Hayley McConville, associate in family law at Slater and Gordon, discusses why it’s important to have the difficult conversations around protective planning amidst the happiness of planning the big day.
Couples who plan to marry are set to have more choice in how and where they tie the knot, following new legal reforms – and experts are reminding of the need for protective financial planning ahead of entering into a marriage.
Under new proposals, which are hailed as the biggest overhaul to marriages laws since the 19th century, couples will be able to marry in a wider range of locations, which will include the likes of beaches and heritage sites.
The Government predicts these changes will lead to a three per cent increase in weddings across England and Wales. Consultation on the proposals will open next year.
The reforms are hailed as being more reflective of modern Britain, making it more straightforward for couples to have legally-binding religious ceremonies, and allow non-religious groups, such as Humanists, to conduct legal ceremonies for the first time.
It is also said to be a boost to the economy, which could generate over £535million over the next ten years, sustaining 1,800 businesses. It follows Law Commission recommendations in 2022 to modernise marriage law and break down unnecessary barriers to weddings.
While hailed as a positive step for couples wanting to marry, legal experts are warning of the importance of getting financial affairs in order ahead of the wedding.
Hayley McConville, a specialist family lawyer at Slater and Gordon, says: “We would always strongly recommend that those intending to marry consider their finances. Naturally, it’s not something a lot of people want to consider when they are planning their big day, but it is a big deal.”
One way of doing this is by considering a pre-nuptial agreement, says Hayley, which is something family law specialists can support with.
“A pre-nuptial agreement is a legal contract that a couple can enter into prior to marriage, dealing with how their finances should be handled in the unfortunate event that they do separate or divorce,” she says.
“The making of a pre-nup will start conversations flowing about finances, and can allow people to really discuss the ‘what if’s’. These conversations will avoid couples coming across surprises later on.”
