Pre-nuptial agreements are not just for the rich and famous

Mature couples have more to lose if their marriage doesn’t work out, and British courts have started to look more favourably on pre-nups.

Following the speedy divorce between art collector Charles Saatchi and celebrity chef Nigella Lawson, thanks to a pre-nuptial agreement, Rotherham-based Oxley & Coward Solicitors have highlighted the fact that it is not just celebrities who can benefit from these agreements.

According to Oxley & Coward, pre-nups, which set out how property is to be divided in the event of a divorce, were regarded as contrary to public policy and void under English law, until the case of Radmacher v Granatino in 2010.

Since this landmark ruling, courts have become more sympathetic to pre-nups, provided they are freely entered into by each party “with a full appreciation of its implications”.

Sarah Scott, Oxley & Coward family lawyer, said: “While courts are now more likely to follow a pre-nup as a guide as to what kind of financial settlement to make, it is not possible to use such an agreement to prevent the other party from seeking a different financial settlement through the courts anyway. A pre-nup should be seen as a good way for couples to set out on the right foot, with everyone sure of how they stand and clear how the other feels.

“While a pre-nup can make a lot of sense, they are not always appropriate for young couples without children, because it is harder to tell what their future holds,” said Ms Scott. “But for an older couple, as in the case of Nigella and Charles, the case for pre-nups is compelling. Where couples bring assets and children into the new marriage, these agreements can prove a useful way of protecting such assets and ensuring financial security for children from a previous relationship.”

Michael Gregory, an associate in the family team at Leeds-based Clarion, added: “We see many people without the benefit of nuptial agreements on the breakdown of a marriage or civil partnership, and this can cause considerable stress and uncertainty for everyone involved as a financial settlement can take many months to conclude.”

Tim Mellors, a partner and head of family law at Harrogate-based private client law firm, Barber Titleys, said that pre-nups were not just the province of the rich and famous.

He added: “A marriage is essentially a contract between two individuals, and older people are more likely to own assets and already have children when deciding to marry.

“For them, a pre-nup should be as essential to the preparation for a wedding as booking the venue and ordering the flowers.

“Often, there is no other way of seeking to protect family assets or property acquired before the marriage.

“However, if the marriage does not work out, and there is no pre-nup, there is a greater risk of losing family assets upon divorce.

“Older people can be hit very hard at a difficult time in their lives by the loss of such matters as pension rights and, in some cases, inherited wealth.”