Pre-nups aren’t just for rock stars
September 6, 2010
At a time when couples are getting married later in life and therefore have accumulated more wealth, it’s hard to believe that only 14% of engaged couples sign a prenuptial agreement.
The research conducted by theknot.com.au, demonstrates that modern couples still believe that discussing management of finances and the reality of divorce might jinx the union before it’s begun. However, according to local experts, signing a pre-nuptial agreement is the first step in building a good financial future.
Leisa Toomey, of Schultz Toomey O’Brien, says that taking the time to do a pre-nuptial agreement gives couples the opportunity to do some financial planning and to ensure they understand each other’s views on spending, saving and managing their money.
“People wrongly believe that pre-nuptial agreements are only relevant for dissolving a marriage while going through the process also gives couples the opportunity to discuss how they may manage their finances during the marriage. For example, what debts does each partner bring into the marriage, who will be responsible for what expenses and how will things like inheritances, investments and assets will be managed,” said Leisa.
“Of course a pre-nuptial agreement will also cover what each partner brings into a marriage and how this should be distributed in the case of divorce or death. However, while people have no qualms in insuring their lives and property in case the unthinkable should happen, it seems couples are not prepared to consider that divorce is an unfortunate reality for many couples.”
Leisa will be addressing some of the 150 plus brides expected to attend the it’s my wedding Expo at the Maroochy RSL on September 26 about the importance of pre-nuptial agreements and why this subject needs to be discussed and considered by every couple before they tie the knot.
“Pre-nuptial agreements are one of those taboo subjects that many people would love to learn more about without going to their partner and asking them to meet with a lawyer,” said Dee Collins, organiser of the Expo.
“Providing this type of forum enables both brides and grooms the opportunity to learn more about these agreements and how valuable they are irrespective of whether divorce ends up being part of the equation and we expect a big turnout for this session.”
The Expo, incorporating Honeymoon Destinations, includes everything from displays, workshops, fashion parades featuring exclusive Jonathan James couture, prizes and a chance for brides to speak to people like celebrants, hair and make-up stylists, photographers, caterers, venue operators, entertainers and florists.
A major drawcard is the door prizes for brides drawn at the Expo including a dream honeymoon to Thailand with two nights in Phuket and two nights in Bangkok staying at Banyan Tree plus a $2,000 voucher for flights and transfers from Russell and Turner Travel Associates; or two lucky brides winning a $1,000 gift certificate each from Gowns of Elegance.
Exhibitors interested in the last few stands should contact Mark and Dee Collins at Functions Unlimited on 5448 7372 or www.itsmywedding.com.au
Ends.
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