Diy Prenups On The Rise Outsource
It is not unheard of for celebrities in Hollywood to arrange a marriage with some financial strings attached
. That"s right, that all intimidating pre-nuptial agreement (pre ""nup).
But it's no longer just the rich and famous who are putting signatures on paper other than their marriage licence. Creating a pre-nup agreement is becoming increasingly popular among the moderately wealthy, particularly those on their second marriages with children to consider.
'I've drawn up more pre-nuptial agreements in the last two years than in two decades as a practising family lawyer.'' said one solicitor.
''Recent high-profile cases have certainly raised awareness about the benefits of such contracts'' she added.
Cut price
You might have seen them in the Post Office, but people are now opting for the cut price, do-it-yourself pre-nup. There has been a noted 17% increase in the use of pre-nups.
Obtaining the right legal advice could be crucial if the pre-nup goes before a judge, particularly in England and Wales - because at the moment they are not always legally enforceable.
Respect
The pre-nup has a much greater position of respect in the United States.
For one thing, its legally binding, and for another, much more commonly placed in American culture. The courts then treat it with a greater amount of respect.
Here in the United Kingdom, a pre-nup is nothing more than a persuasive tool for a judge in deciding how the assets are divided.
However, a case being considered by the Supreme Court could change this.
It is due to decide whether a pre-nup signed between German heiress Katrin Radmacher, and her former husband, Nicolas Granatino should be upheld.
They were divorced in London and Ms Radmacher won her bid to have the agreements recognised under English law at the Court of Appeal in July 2009.
But Nicolas Granatino has taken the battle to the UK's highest court, claiming he did not know the full extent of her wealth.
Guidance
The case is being closely watched by family lawyers, who say they desperately need guidance.
''It's horribly confusing at the moment because we simply don't know what to advise clients. We don't know if these agreements will be taken into account or not. All we can say is that they might be but the law is likely to change," is something that family lawyers have been heard muttering.
''What we really would like from the Supreme Court is some clarity or guidance on whether these agreements will be enforceable, and in what circumstances. For example, if legal advice is a requirement, if full disclosure is a requirement and whether there should be a cooling-off period.''
A judgement is not now expected until the Autumn 2010. So what is the advice for people who want to sort out their financial affairs and get married before then?
'It's impossible to say that the agreement will be upheld in its totality, but it's almost certain that the person would be more secure than if they didn't have one.'
by: Antonia Torr
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