Couple’s Second Marriage off to a Good Start Thanks to a Pre-Nup
11 March 2015
Slater and Gordon Family Lawyer Vicki McLynn acted for a female client in her early 50’s who was about to marry for the second time.
Vicki’s client’s first husband was a dentist and under the divorce settlement Vicki’s client had received sufficient funds to enable her to buy a small cottage mortgage free. Vicki’s client was also receiving a monthly income from her first husband which was to continue until she was able to draw on her pension. Under the first divorce Vicki’s client had received 40% of her husband’s NHS pension fund and had a secure financial future ahead.
Vicki’s client’s second husband did not have any significant savings and limited equity due to his own divorce. Vicki’s client’s second husband did however operate his own business which generated a good income.
Vicki’s client was concerned that if the marriage broke down she might lose her home. She would also lose her monthly income as soon as she married again and wanted to protect her capital position and pension.
Vicki and her client drew up a pre-nuptial agreement under which in the event of divorce, Vicki’s client would retain her home and her second husband would not be able to make any claim against the equity or her NHS pension provision. In turn Vicki’s client agreed that in the event of a divorce, she would not pursue any share in her second husband’s business.
Other assets accrued during the second marriage were to be shared equally.
This arrangement gave Vicki’s client peace of mind and her second husband was similarly keen to protect the business he had worked hard to establish.
The marriage therefore got off to an excellent start based on openness and compromise.
Vicki McLynn is a Senior Family Law Solicitor at Slater and Gordon Lawyers UK.
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