Many Americans who live in the UK know that managing finances in two countries is not always straightforward. From filing taxes on both sides of the Atlantic to estate planning and everything in between – it can be a complex process.
In London & Capital’s podcast for international Americans, Robert Paul, Partner in the US Family Office, and his panel of experts discuss the major issues that US expats need to navigate when living in the UK.
Subscribe now to our Podcast series ‘A United Approach’ for unprecedented insights into how you can navigate the complexities faced by US expats in the UK.
COHABITATION, MARRIAGE AND DIVORCE
When happy couples decide to take the plunge into marital bliss, not many want to think about adding prenuptial agreements into the mix. After all, a contract that is associated with the idea of ‘what happens when this doesn’t work out’ doesn’t exactly sound romantic.
Prenuptial agreements definitely have an unfair stigma associated with them, mostly because of the perception that such contracts are designed to disadvantage one party over another in the event of a break-up.
In reality, it is no more than a financial planning tool that has the principle of fairness at the heart of it. No court will honour an unreasonable agreement that puts one party at a disadvantage. It’s a framework that can give clarity to both parties, during a time which is usually rather emotionally charged.
WHO ARE THEY FOR?
It’s most often used by wealthy families or individuals who want to ringfence assets they’ve acquired before the marriage, and that they don’t intend to be shared if the relationship breaks down. Or, it can be used to ensure that wealth passes generationally to children on one side of the family, or for the protection of a family business.
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