Tag Archives: pre-nuptial agreements

ILN Today Post

“With 33.5% of my worldly goods I thee endow…”

Prenuptial agreements (pre-nups) are to become legally binding, according to the report of the Law Commission, advance notice of which was given earlier this week. At the moment such contracts are not legally binding in England and Wales but they are given decisive weight following the case of Katrin Radmacher and her husband in 2010 as long as one party is not left “in need” or if there was unfairness.

The idea is that the parties are free to ring-fence assets which they had, whether these are assets in existence at the time of the marriage, or acquired afterwards. They can also seek to limit both the duration and the amount of maintenance paid to either party. It is likely that the Commission will impose certain safeguards in order for these agreements to be legally enforceable such as a requirement that both parties take independent legal advice so that they fully understand the nature of the agreement they are entering into. Pre-nups are common in many of the States in America, and also in a number of jurisdictions in Europe, where they are considered the norm. More…

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