Pre-Nuptial Agreements
It is still the case that Pre-Nuptial Agreements are not binding under English law when divorce or separation proceedings are brought.
However, the law concerning Pre-Nuptial Agreements is developing quite rapidly and Pre-Nuptial Agreements are increasingly being taken into account when financial settlements are negotiated or when Court Orders are made. The recent Supreme Court decision in the case of Radmacher v Granatino confirmed that courts are now likely to give effect to pre-nuptial agreements freely entered into by both parties unless this would be unfair, or unless it would fail to provide for the children. Therefore, although a Pre-Nuptial Agreement will not always be the last word should there be a separation or divorce under English law, it is always sensible to consider entering into such an Agreement before a marriage as it may be an important factor. However, to be considered as an important factor, any Pre-Nuptial Agreement must be drafted properly, with both parties giving full financial disclosure and having the opportunity for legal advice and with the agreement being entered into usually at least 21 days before the wedding. If any of these factors are not present then the weight to be given to the Pre-Nuptial Agreement in divorce proceedings mayl be reduced.
Financial agreements can also be entered into after the marriage (but before any relationship breakdown), and these will also be taken into account if there is a divorce.
Franklins can assist with drafting Pre and Post-Nuptial Agreements and with the negotiations involved.
The above information is intended to provide a general guide only. Advice as to your specific circumstances should always be taken.