Today sees the announcement of the marriage of Prince William to his long term girlfriend, Kate Middleton.
The past few weeks have seen much comment and speculation in the media about couples who are planning to marry and whether or not they should consider entering into a pre-nuptial agreement. The recently reported case of Radmacher –v- Granatino highlighted the current status of pre-nuptial agreements and whether they are something that more couples should be considering.
Although not the most romantic discussion to have with your fiancé, it is something that couples should contemplate. One party may have a higher income, or be coming into the marriage with significantly more assets. Additionally, one party may have much greater inheritance prospects. A pre-nuptial agreement could help protect your assets or income.
There are rumours of a high-street department store offering pre-nuptial agreements as part of their wedding packages and it is likely that there will be several DIY versions available in the future. Although this may seem like a cheap way to get a pre-nuptial, in the long run it could be more costly as upon divorce you may end up in court arguing over whether it is ‘fair’ and whether it was entered into correctly. It is far better to seek advice from an expert who you can see face to face and draft a personally tailored pre-nuptial to meet your needs.
Do you think that pre-nuptial agreements are relevant in today’s society? Do you think that Kate and William should consider such an agreement?
Let us have your views.
http://www.bbc.co.uk/news/uk-11765422
Anne Thomas, Legal Executive, Hart Brown family department
Showing posts with label pre-nup. Show all posts
Showing posts with label pre-nup. Show all posts
Tuesday, 16 November 2010
Friday, 22 October 2010
Pre-nuptial agreements
Yesterday, the long awaited decision in the Radmacher v Granatino case was announced by the Supreme Court, the highest court in England.
The court said that pre-nup agreements should be followed where they had been “freely entered into by each party with a full appreciation of implications unless in the circumstances prevailing it would not be fair to hold the parties to their agreement”.
Ms Radmacher (whose fortune is estimated to be £100 million) and Mr Granatino had signed a pre-nup stating that neither would make a financial claim against the other in the event of a divorce. However, the agreement did not anticipate children.
Mr Granatino was awarded a sum to pay his debts, a regular child maintenance sum (for when the children stayed with him) and two sums to purchase a house in London and Germany, with the ownership of both properties reverting to Ms Radmacher once the children had grown up. He received no share of his wife’s fortune in accordance with the pre-nup.
However, was this decision fair and would the award have been higher if it had been a woman in Mr Granatino’s position? Let us have your views!
Find out more about Hart Brown's family department
Read more about the Author of this article, Natasha Crocker.
The court said that pre-nup agreements should be followed where they had been “freely entered into by each party with a full appreciation of implications unless in the circumstances prevailing it would not be fair to hold the parties to their agreement”.
Ms Radmacher (whose fortune is estimated to be £100 million) and Mr Granatino had signed a pre-nup stating that neither would make a financial claim against the other in the event of a divorce. However, the agreement did not anticipate children.
Mr Granatino was awarded a sum to pay his debts, a regular child maintenance sum (for when the children stayed with him) and two sums to purchase a house in London and Germany, with the ownership of both properties reverting to Ms Radmacher once the children had grown up. He received no share of his wife’s fortune in accordance with the pre-nup.
However, was this decision fair and would the award have been higher if it had been a woman in Mr Granatino’s position? Let us have your views!
Find out more about Hart Brown's family department
Read more about the Author of this article, Natasha Crocker.
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