Supreme Court rulings on prenuptial agreements
The Supreme Court’s recent decision on the Radmacher case has been welcomed by Family lawyers for the clarification it brings to an uncertain area of the law.
Before this judgement pre-nuptial agreements could be taken into account to some degree when assets were being divided following a divorce, buy they were in no way legally binding. The Supreme Court has now ruled that a properly drafted agreement could be binding on the parties.
The status and enforceability of pre-nuptial agreements is currently being examined by the Law Commission, and it is important that they and the Government study this judgement before legislating.
The Law Society already advises couples to approach a family law solicitor for advice as marriage is a serious commitment with far-reaching consequences, particularly if it ends in divorce. The Supreme Court judgement will help those wishing to protect their assets, but both parties must agree and consult specialist solicitors to obtain objective advice and a properly drafted agreement that safeguards their interests and avoids legal complications.
25 October 2010
The contents of this article are for the purposes of general awareness only. They do not purport to constitute legal or professional advice. The law may have changed since this article was published. Readers should not act on the basis of the information included and should take appropriate professional advice upon their own particular circumstances. (50587)