More couples set to consider pre-nups

 

More couples are likely to consider entering into pre-nuptial agreements in the light of two high profile divorces where they were upheld by the court, says Barr Ellison family law expert Helen Saggers.

Explains Helen: “Previously I would have told clients there was limited benefit to drawing up a pre-nuptial agreement because they are not legally binding, but with two cases upholding the agreements there are some couples who should now consider one.”

German heiress Katrin Radmacher had an earlier court decision to award her ex-husband £5.8m overturned on the grounds that he had agreed not to make a claim if they divorced. Appeal judge Lord Justice Thorpe said he believed it had become “increasingly unrealistic” for courts to disregard pre-nuptial agreements and Miss Radmacher’s solicitor said: “From today grown-ups can agree in the best of times what will happen in the worst of times.”

In Crossley v Crossley the court allowed the husband to ‘short circuit’ the normal procedures partly due to the fact a pre-nuptial agreement was in place.

Helen still believes that for the vast majority of couples a pre-nuptial agreement isn’t necessary but when one person is bringing a lot more assets to the marriage or it is a second marriage they may well now want to consider one. “For these people it’s probably worth having one rather than not, but the agreements are geared more towards wealthy individuals and short marriages. After many years of marriage so much will have changed that the agreements are likely to carry less weight.”

Helen doesn’t believe the law is likely to change soon to make the agreements legally binding as they are in many other countries: “I don’t think there is any appetite to take away the court’s discretion, which would be the case if the agreements were legally binding.”

To find out more contact Helen Saggers

 

The information given in this article is of a general nature only and should not be considered as advice applicable to any particular situation for which specific request should be made to us.

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