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Starting a family

If you are considering starting a family, having considerable wealth can of course be a great help. However, it can also bring challenges that are often misunderstood or not anticipated. When relationships are developing, it is important to protect your wealth – but how you do this needs to be handled carefully, and the emotional cost must always be balanced with the financial.

Engaging in an open dialogue with your partner about financial management early on not only avoids disappointment for all, but sets a healthy precedent for the relationship.  Even at this early stage, the Cripps Life team can work with you to manage and document the process. We can help you look ahead, developing a plan for how you see the management of your finances evolving alongside your relationship. This ensures that, when the time is right to have a discussion with your partner, you have a clear vision for the future and know exactly what you want to say.

Marriage is a natural progression (and is usually a very positive thing), but it does alter your relationship legally and emotionally. This needs to be taken into account from the outset. Marital agreements – contracts that protect an individuals’ assets before entering into marriage – are now not only legally recognised, but increasingly seen as commonplace. When handled appropriately, they can foster trust and happiness in a marriage.  We can work with you to explore, understand and draft marital agreements, helping you plan a tailored future that works for both you and your partner.

As your family grows, your needs also naturally alter. You may, for example, need to purchase a bigger home or employ domestic staff.  The more you can afford to do to ease the difficulties of family life, the more complexity this brings in legal and financial terms.  The Cripps Life team can provide you with varied and multifaceted help at this time, whether by assisting with the finding and acquisition of a new family home, or establishing your legal relationship with employees

Responsibility to one’s family is for life, and even beyond.  We understand how crucial it is to secure a good education for your children, giving them the best possible start in life regardless of whether you are there to provide that support along the way.  We can work with you and other advisers to decide how best to secure that future, and not just in financial and legal terms.

Areas where we can help:

  • Co-habitation agreement
  • Domestic staff contracts
  • Divorce
  • Educational advice (e.g. schools advisers)
  • Pre and post-nuptial agreements
  • Property acquisition, expansion and renovation.
  • Wills

Key contact

Looking for something else?

If you have questions we haven’t answered here, please contact one of the team for a no-obligation, initial conversation and we can take the first step in achieving your goals.