Is a prenuptial agreement right for you?
Talk of the wedding of next year might have been blighted by the question – will William and Kate consider getting a prenuptial agreement
Since the announcement of the Royal wedding, there has been much speculation about the different backgrounds of the young couple.
Speaking to the Mail
newspaper on the Royal marriage announcement, the divorce expert Isabel Thornton told the paper: "In a more typical scenario, where two 28-year-olds are soon to be married and a substantial disparity of wealth exists, one set of parents would undoubtedly be marching their offspring to see the lawyers as soon as possible."
In October, the Supreme Court ruled in favour of Katrin Radmacher
, whose ex-husband Nicholas Granatino sued after he found out she was the heiress to a multimillion pound fortune.
The former couple had signed a prenuptial agreement
in 1998 in Germany, in advance of their wedding.
The pre-nuptial agreement stipulated that neither party would seek financial gain if they chose to separate.
Nicholas Granatino, an investment banker turned Oxford academic, decided to instigate legal action following his discovery that Ms Radmancher is reportedly worth £106 million.
He claimed that he had not fully understood the implications of the prenup when he had signed it because it had been written in German.
In addition, Mr Granatino claimed that he had not received any legal advice on the prenup.
However, the Court chose to award Mr Radmacher only £70,000 annually, ruling that he was not entitled to a £9.2 million payout from his ex-wife.
The decision will have resounding implications for future cases, overturning the recent trend for high-profile divorce payments worth millions.
While prenuptial agreements have long been enforced across the US, English courts have largely chosen to ignore them.
It is expected that the decision to rule in favour of Ms Radmancher could mean that fewer couples decide to leave the outcome of a possible divorce to chance.
One of the best ways to approach the issue could be to purchase a prenuptial agreement
Guaranteeing your pre-nuptial agreement with your partner will be upheld has become easier, but the devil remains in the detail.
Lawpack's Prenuptial Agreement
can tell you what to include and exclude in the prenup – couples attempting to allocate 'taking out the bin' days and other domestic duties can "run a very real risk" of making their prenup unenforceable.
A pre-nuptial agreement should primarily focus on what will happen to both your assets and your finances.
It can help people find out what they can do with the contents of their shared home, specific gifts, the overall cost of the prenup and what happens to property they have purchased separately.
While it may seem to interfere with the sacred and romantic notion of marriage, it can actually save much heartbreak and acrimony – whatever your income.
Investing in a Prenuptial Agreement
from Lawpack could be an economical, sensible option that could save money in the long run.
Published on: November 30, 2010
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