News
Pre-nuptial agreements. - 13/07/2010
The Law Commission, the body that advises Parliament on changes in the law, is putting forward a report containing options which include making pre-nuptial agreements legally binding.
Although “pre-nups” are legally binding in many countries, for many years they were almost ignored in English law. More recently however the court has taken more notice of such agreements, although they still do not have legally binding status. In several recent cases they have been decisive in affecting the court’s decisions.
Many family lawyers believe that the rich, especially those who may already have experienced divorce, are increasingly deterred from marriage because of the fear that a wife, whether or not she directly contributes to the creation of assets, will receive substantial awards under current divorce law. There is no such provision if cohabiting couples separate.
Pre-nuptial agreements would allow a couple to agree in advance of marriage that certain assets would be exempt from any subsequent divorce. Any law allowing enforceable pre-nuptial agreements would also contain provisions to protect spouses from being pressurised into unfair arrangements, and to safeguard any children of the marriage.
The Law Commission report is expected to be published later this year.
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