Prenuptial agreements on the rise in 2018
13 February, 2018
We may not be Kim and Kanye but new research shows 44% of singles now think prenups are the way forward.
See our full press release below.
- Celebrities are 50% more likely to get divorced compared to UK average
- 1 in 5 couples in the UK would get divorced if they had better financial security
- 44% of singles would sign a prenup before marriage
- 63% increase in UK prenuptial agreements
- 46% increase in women initiating prenuptial agreements
Research by divorce specialists First4Lawyers has found that there has been a steep increase in prenuptial agreements in the past three years, with 63% of lawyers saying they have seen more cases. Surprisingly, they also say there has been an increase in women initiating these agreements, despite it traditionally being the men who wished for them. Traditionally, women earned much less, but today, equal pay is very important and women are earning much higher salaries, meaning they have more to protect with a prenup.
With prenups in the media so much, is it a surprise that 44% of singles believe prenups are a good thing? It’s clear that their popularity is on the rise, and for celebrities, they are part and parcel of getting married. With millions of pounds of assets to protect and a 50% divorce rate amongst celebrities (compared to the 25% UK average), it is no wonder they make prenups a priority.
A number of high profile couples, past and present, have or had prenups in place. Some of the more notable include Brad Pitt and Angelina Jolie, Beyoncé and Jay Z, Kim Kardashian and Kanye West, and Keith Urban and Nicole Kidman.
All of these agreements contain child custody agreements alongside financial arrangements, with Urban and Kidman’s even including a clause that excludes Keith from receiving any money if he ever uses drugs again.
What happens when there is no prenup?
The research also discovered the impact that not having a prenup has had on celebrity divorces in the past. Without a prenuptial agreement in place, Guy Richie and Madonna’s divorce cost her an eye-watering $92 million of her fortune.
The break-up of Jessica Simpson and Nick Lachey was similarly lacking in amicability. Although Jessica offered Nick $1.5 million, he ended up walking away with over half of the $35m income she had generated during their marriage.
First4Lawyers also looked into the reasons divorce rates amongst celebrities are so high, and found that their reasons are not so dissimilar to ‘ordinary’ people, but with the added pressures of show business.
Long-distance issues were one of the main causes of celebrity break-ups, and as singers and actors are often away for months at a time it is hardly surprising that this places strain upon their marriages.
Other reasons for break-ups included cheating, and the fact that they begin to see each other as competition. Whilst ‘ordinary’ marriages aren’t competing for film roles or the number one spot in the charts, elements of competition can still creep in to every day relationships First4Lawyers expert panel of solicitors can advise on prenuptial agreements, divorce and a range of other legal services.
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