Jamaicans Seeking out Prenuptial Agreements To Protect Assets for Children’s Inheritance

Sherry Ann McGregor, attorney-at law

Sherry Ann McGregor, attorney-at law.

Prenuptial agreements (“prenups”) are increasingly becoming popular in Jamaica, as more persons seek to safeguard their properties ahead of marriage, said a legal expert.

Sherry Ann McGregor, attorney-at law, said that some couples are seeking to enter into legal agreements.  One party to a marriage may want to preserve assets acquired prior to the marriage for children born in a previous union to inherit.

“It is still less common for you to have prenuptial agreements [than for you to] get married [without one]; but it is becoming increasingly popular and it is not only persons who are super wealthy who end up signing prenups,” she pointed out.

Ms McGregor made those revelations while addressing a JN Circle, Thrive Together Life Class recently, which was held under the topic, “For Love or Money: The Role of finances in relationships.”

However, Ms McGregor advised couples to have frank and open discussions about finances prior to marriage, and not on the eve of the wedding.

“When [a financial issue] is lurking in the background, it is going to come to light at some point; and the truth is, we do not have any guarantees to forever, as many marriages end in divorce,” she pointed out.

She said that there are consequences which flow from relationships coming to an end; therefore, it is best to address them before the marriage.

The attorney-at-law said that partners in a relationship should not allow themselves to remain in the dark. “Each partner,” she said “whether in a marriage or common-law relationship, should be informed about the financial resources in the relationship.”

“We talk about prenup, but a lot goes on during the relationship which may not have been the subject of the prenup, unless the prenup also said that anything we acquire during the union should be shared in a particular way,” she informed.

Season two of the JN Circle Thrive Together Life Class, seeks to empower JN members and customers to thrive as they prepare for 2021. The discussions will focus on issues relating to self-care, goal setting, self-actualisation, parenting and financial wellness.

Persons can register, to join the sessions via the ZOOM platform, or watch and participate via the JN Group’s Facebook Page.

The discussions include interviews, lectures, and gamification. Participants also have the opportunity to win prizes during these sessions.

The next session is scheduled for Wednesday, January 27, and the topic will be: “Socially Distant Dating: Love During A Pandemic!”

Interested persons can register for the online series by visiting ja.myjncircle.com or view past sessions at: https://www.youtube.com/watch?v=apyVS4jCziA&list=PLQk2xq38e9YNq_ovfbjWuHgrxVRc_K58j