Prenuptial Agreements Under UK LawPosted by Kim Rix on March 30th, 2010
Dear Bride and Groom,
We often read about our ‘celebrity peers’ drafting pre-nuptial agreements before they get married. In fact a lot of wealthy people would probably draft up this agreement in the event they were marrying a ‘poorer’ partner to quash any ‘marrying for money’ rumours.
But what actually are the benefits of a pre-nup?
The first, and very important, thing to say is that a Pre-Nuptial (or pre-marital) Agreement is not enforceable under UK law. Surprised? The fact is that the American and media view of the pre-nup is not reflective of the fact. If your marriage does end in divorce there is no reason for the judge to rule to the terms laid out in your pre-nup. It is their job to do their best by everyone and as they see fit, so if they choose to disregard it completely, then they can.
Ok. So that is a big con. But what are the positives?
In short marriages, or those where there are no children then a pre-nup can be useful in settling assets. It outlines the original terms and conditions of marriage and may give the judge some insight to the characters of the couple he is dealing with. They are more likely to take this into consideration and only make minor recommendations and enforcements.
Where children are involved in a divorce it is very unlikely that a pre-nup will be considered. The needs of all parties have changed during their time together and the judge must act in the best interest of all.
Most solicitors in the UK would agree that they are not worth the paper they are written on and would generally advise against it as an unnecessary expense and hassle. Although 5% of British couples are thought to have one written they are more common amongst the wealthy or the celebrities. The simple fact is they might not actually do you much good.
If you had been thinking about a pre-nuptial agreement and are now having second thoughts it would be worth speaking to your solicitor for their recommendation.
Kind regards,
Kim Rix
“Freeing up your time”