subject: Landmark Divorce Makes Pre-Nuptial Agreements Binding [print this page] Landmark Divorce Makes Pre-Nuptial Agreements Binding
The British High Court has seen a high landmark divorce case that would amendment the future role of the legal standing of pre-nuptial agreements in England and Wales. The ruling in favour of the German heiress Katrin Radmacher over her ex-husband, Frenchman Nicolas Granatino, will bring this part of family law in line with most of Europe.
When the couple married in 1998 they signed a pre-nuptial agreement in Germany underneath German Law stating that neither would create any financial claims ought to they divorce within the future. But, while married they lived within the UK, where they conjointly divorced, which till now had not recognised pre-nups. An initial court ruling had stated that Grantino should receive over ?five million from his former wife. This new case has overturned this though, and he can currently receive ?1 million.
This case suggests that a important change in family law in England and Wales. Pre-nups had not previously been thought-about legally binding but this will now change. So long as they're deemed truthful by the court this should mean pre-nuptial agreements can dictate what every member of the wedding can receive once a divorce. It will though, still be overruled if it's deemed unfair to any kids of the marriage. It will be unlikely that one person will be left high and dry if they need no savings or income.
To start with this is often solely doubtless to affect wealthy couples, or couples who are marrying where one person is significantly wealthier than the other. Eventually though, it could filter right down to those of a more average wealth, one thing that has been seen amongst some in different elements of the world. In terms of the particular quantity of cash the rich have more to lose post divorce (though it may be argued they're more able to afford to lose it), so they are more doubtless to seek a pre-nuptial agreement.
Where one person during a marriage is significantly wealthier than the opposite, the one less made will still seemingly receive something, partly as a result of it's likely to be stated within the pre-nuptial agreement in the first place. If not, and a pre-nup is contested, a court will doubtless rule more in favour of the less wealthy person than the pre-nup states. In this landmark case Nicolas Grantino has still been told he will receive ?1 million. What it's possible to end in, where stated during a pre-nuptial agreement, is an end to a number of the astronomical divorce settlements that have been seen in the past.
The divorce case between Katrin Radmacher and Nicolas Grantino is important. Pre-nuptial agreements are legally binding to some extent in the United States and Europe, and this can now be similar in England and Wales. Pre-nups can not essentially be stringently stuck to 1 hundred per cent of the time but it is seemingly to create at least a basis for a divorce settlement, and where thought of truthful courts will likely rule that settlements should mirror the agreement created by the couple previous to their marriage.
