Why Pre Nups are for everyone not just the elite in society

By Georgina Hitchins on December 13, 2022

A prenuptial agreement, also known as a premarital agreement or prenup, is a legal contract entered into by a couple before they get married. The purpose of a prenup is to establish the financial and property rights of each spouse in the event of a divorce or death.

Prenups are not just for the rich and famous elite in society. In fact, they can be beneficial for any couple who wants to protect their assets and clarify their financial responsibilities before tying the knot.

One common reason for a prenup is to protect individual assets. For example, if one spouse owns a business or has significant savings, a prenup can ensure that those assets remain separate in the event of a divorce. This can be especially important for individuals who have been through a previous divorce and want to avoid any potential disputes over property division.

Another reason for a prenup is to establish financial responsibilities during the marriage. This can include provisions for things like who will pay the bills, how much each spouse will contribute to household expenses, and whether either spouse will receive alimony in the event of a divorce.

It’s important to note that prenuptial agreements are not just for protecting individual assets. They can also be used to protect shared assets, such as a family business or real estate holdings. This can be especially important for couples who plan to merge their finances and want to clearly define each spouse’s ownership interest in shared assets.

Some people may view prenups as unromantic or unwise. However, entering into a premarital agreement can strengthen a couple’s relationship by promoting open communication and financial transparency. It can also provide peace of mind and protect both individuals in the event of a divorce or death.

It’s important to consult with a lawyer when drafting a prenuptial agreement. An experienced lawyer can help ensure that the agreement is fair and legally enforceable.

In conclusion, prenuptial agreements are not just for the wealthy. They can be beneficial for any couple who wants to protect their assets and establish their financial responsibilities before getting married. A prenup can promote open communication and financial transparency within a relationship and provide peace of mind in the event of a divorce or death.

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OLS Solicitors Blog

A day in the life of Lara Davies Family Law Solicitor

By Lara Davies on August 23, 2022

A day in the life of a family law solicitor.

Meet Lara Davies. She’s a member of Resolution, the family law organisation dedicated to taking a non-confrontational approach to family law. Lara worked hard to become a Resolution Accredited Specialist.

As a Senior Solicitor and Director at OLS, Lara’s day starts early. Her alarm goes off at 6am, and after taking her Cockapoo, Bryn, out for a 2-3 mile walk, she returns home to have her first coffee of the day. Lara needs at least two cups before she can function properly!

Coffee and emails

When Lara arrives at work, she greets her colleagues before heading to her office to check her emails and diary. Today is Wednesday, which means it’s Lara’s “surgery” day. She dedicates half a day a week to deal with pro bono appointments – free advice calls. Lara has six appointments in her diary for this morning, ranging from a father who hasn’t seen his children for six months, to an elderly lady looking to start the divorce process against her husband of 30 years, to a young lady who is a victim of domestic violence from her cohabiting partner and a mother who has had a visit from social services. After each appointment, Lara makes an attendance note of the advice she has given and tries to stay on top of emails.

Video conference with barrister

Later in the day, Lara catches up with a client and counsel for a video conference ahead of an FDR listed for 3pm. Since Covid, OLS’s working patterns have changed, and the technology they have allows them to be completely agile. They work from anywhere and are as present as if they were there in person. They talk the client through what will happen that day, the Position Statement they have received from the opponent, and what outcome the client can expect. Lara will not be attending the hearing, but both counsel and her client will keep her informed of how it goes.

After the conference, Lara makes another coffee, catches up with her secretary Donna, and has something quick to eat at her desk. She dictates a short tape for her secretary to work on this afternoon, which takes a little pressure off and allows her to spend time drafting in the afternoon. A client emailed overnight with additional information that he wants included in his S.25 statement, so Lara makes a start on this.

Mentoring our trainees

Later in the afternoon, Lara’s Trainee Solicitor emails with a query on a case, and they have a short Teams call to talk about options available to the client and a suitable response. Lara remembers being a Trainee and always being afraid to ask questions. OLS has an open-door policy and makes full use of each other’s specialist knowledge.

In the evening, Lara has a Teams call scheduled with a client in South Africa. Being a remote firm, they have clients all over the world with varied financial portfolios. Lara talks through the matrimonial assets and potential settlement options before agreeing on one further settlement offer that she will draft tomorrow.

No two days are ever the same, and that’s what Lara loves most about her job. She’s often double up as a counselor for most of her clients, in what is often the most stressful and upsetting time in their lives. Lara is dedicated to fighting for her clients’ best interests while bringing a sympathetic and personable approach to her practice of family law.

At OLS, we understand that family law solicitors are often portrayed negatively in the media, but in reality, we have a duty to try and settle cases. We are dedicated to providing a professional but friendly service with continued support and advice on our clients’ legal journey.