Pre & Post Nups and The Trumps
Last week we learnt that Melania Trump had renegotiated her “pre nup” for the third time to ensure a “solid future” for herself and her son. Given the Trumps are married, it is more common to refer to the new marital agreement that the Trumps entered into as a post nuptial agreement – or a post nup. They are becoming increasingly common on this side of the Pond too!
To those outside the family law world, post nups are curious agreements. As family lawyers we are often asked how these agreements are ever suggested in the first place. Don’t they simply demonstrate that the marriage is on the rocks and that the couple are heading to the divorce courts? It’s true that this might sometimes be the case…. but not always.
Post nups are often proposed when an inheritance or a windfall is about to be received, and they can be used as part of a wider inheritance tax planning review by the couple. In the case of the Trumps, we understand from the press reports that their discussions were aimed at protecting the financial future of Melania and her son particularly given the legal battles that Donald Trump is facing in the US courts which may have a negative impact on his assets. Sometimes a couple enter into a post nup because of a change in their circumstances – for example, after the birth of a child. Occasionally, if a pre nup is entered into very close to the wedding, a post nup is a good idea to confirm the terms of the pre nup.
Regardless of how or why the discussions around post nups emerge, they need careful handling both by the couple and their advisers. At FLiP our in house divorce consultants and family therapists are on hand to provide emotional and practical support to clients negotiating post nups, working side by side with our family law specialists as these agreements are drawn up.
There are particular processes which are more well suited to agreeing post nups, including the collaborative process. The collaborative process allows the couple and their respective advisers to work together, collaboratively and constructively, to reach an agreement. Other specialists such as financial advisers, pensions experts and family office advisers can be brought into the discussions to provide specialist insight and support to the couple on the best way forward.
Post nups needn’t signal the end of the road for a relationship. Sometimes they can be the start of a better future together.
Contact our family law specialists to find out more.
At FLiP our expertise in negotiating and delivering pre and post nuptial agreements and relationship agreements is second to none. We combine the first-class knowledge of our lawyers with the support of our divorce consultants and family therapists to offer an unrivalled service, delivered with insight and understanding.
Knowledge of the international rules applying to pre and post marriage agreements is a key aspect of our international family law work and we have close contacts with expert family lawyers across the globe who can assist when required.