Parental concern over children’s divorce

8th March 2015 by

 

Healys divorce solicitors in Brighton and London look at the phenomenon of parents who are reluctant to leave inheritances to their children because they fear the family wealth may be lost during a divorce.

Planning for your children’s divorce
In March 2011 financial services firm Rensburg Sheppards published research findings which revealed that 27 per cent of parents of married children were not confident that their children’s marriages would stand the test of time.

Add to this the revelation that one in three of the 2,005 people questioned said they would be unwilling to leave assets to a married child who may get divorced and it appears there is a culture of fear among parents that today’s marriages are no longer the sacrosanct institution that they once were.

Are pre-nuptial agreements the answer?
The poll also revealed that 72 per cent of parents would like to see pre-nuptial agreements be enforceable in English and Welsh family law.

Unfortunately, pre-nups can sometimes appear unromantic to a young couple who are planning a wedding and their future together, but parents who wish to leave their estate to those children will be keen to ensure that maximum wealth stays in the family and are naturally reticent to offer up a share to a new spouse.

Consequently, it is believed that some parents could be delaying their inheritance planning and this has inherent dangers of its own. By dying intestate – without a will – assets and wealth may not be distributed in the way a parent would have wished, so delaying making a will in an attempt to see the outcome of a child’s marriage is a very risky tactic.

Family law practitioners have long championed the drawing up of pre-nuptial agreements to protect family heirlooms and certain assets on divorce, and if the contents of the document are fair, do not penalise a spouse or any dependants of the marriage and have been decided subsequent to both parties having received appropriate advice from family lawyers then the court will usually take the pre-nup into consideration during divorce proceedings.

Healys’ divorce solicitors in Brighton and London
Whether you are a prospective spouse or a concerned parent, a consultation with a family lawyer to determine the value of a pre-nuptial agreement for your family’s individual situation is always recommended when there are issues of inheritance to be considered.

If relationship breakdown is already under way, Healys’ divorce lawyers work as part of a full service law firm, so, expert advice is always available from professionals in other fields of law who can advise on issues which may arise from a split such as inheritance planning, wills and property conveyancing.

In all instances, Healys aims to find the fairest and most cost-effective solution, and to keep costs proportionate to the value of assets involved. We pride ourselves on giving sensitive, straightforward, client-focused advice which will enable you to weigh up your options and decide what will work best for you.

If you wish to speak to a divorce solicitor in Brighton Catherine Taylor can be called directly on 01273 669 124 or e-mail catherine.taylor@healys.com