All romantics look away now…..
Making a Pre-Nuptial Agreement may not seem like the most romantic thing to do in the run up to a wedding but, for some, it can amount to sensible financial planning.
There will be some of you out there who will be appalled by the very idea of entering into such an arrangement. The fact is that 1 out of 3 marriages ends in divorce. We do not live in a world where everybody lives ‘happily ever after’.
I try to work in a way which minimises the conflict on divorce. I believe that, when couples split, often the best outcomes are found when they are able to agree themselves on what is fair. The court should be a last resort.Allowing couples to have their agreements upheld would minimise conflict on divorce.
Pre-Nuptial agreements are not currently legally binding. They are, however, legally persuasive. This has been further reinforced by the decision in the case of Radmacher at the Supreme Court last year. The ruling upheld the validity of a Pre-Nuptial agreement which both parties had signed prior to marriage. This case has set a precedent for future matters involving Pre-Nutial agreements.
Obviously, safeguards have to be put in place, as such, Pre-Nuptial agreements should be considered by the Court to be binding upon the parties unless:
1.The agreement was entered into as a result of unfair pressure or unfair influence.
2.One or both parties did not have the reasonable opportunity to receive independant legal advice.
3.One or both parties failed to provide substantially full and frank disclosure.
4.The agreement was made fewer than 21 days before the marriage.
5.Enforcing the agreement would cause substantial hardship to either party or any minor child.
Whilst it might not be the most romantic notion in the world, Pre-Nuptial agreements do make sense and can save time, money and stress should the worst happen in the future.