01/09/2009
For Richer…or Poorer ??
Pre-nuptial agreements have long been considered as the preserve of the rich and famous. The recent case of the heiress Ms Radmacher bought it onto the front pages of national press and onto our television screens. Catrin Radmacher herself predicted that as a result of the decision in her case men and women will no longer have to worry that they are being married for their money, but can organise their affairs if the relationship fails, before they enter into marriage.
In reality, though, the case did not change the law. Properly negotiated pre-nuptial agreements have always been capable of affecting a financial settlement
To make them automatically enforceable would need wholesale reform from parliament and not just the say so of a Judge; even a Court of Appeal Judge at that. What has happened, though, over recent years is that the weight given to pre-nuptial agreements by Judges has increased. Ultimately the Judges retain their absolute discretion to decide what is a fair outcome, but if a pre-nuptial agreement is properly negotiated and there is no obvious unfairness or abuse, then increasing weight will be given to it.
Catrin Radmacher didn’t change the law, but showed that if the right hoops are jumped through in terms of signing up to the agreement and the agreement is not obviously unfair in the future it should be upheld by the court. Any party looking to protect and/or preserve monies in the event of divorce would be well advised to sign up to a pre-nuptial agreement just in case.
|
|
