Monday, 14 Mar 2016

What is a Pre-Nuptial agreement?

What is a Pre-Nuptial agreement?

Following Skipton Solicitor Andrew Fould’s step by step guide to divorce, he now tackles the ins and outs of Pre-Nuptials. The concept of a Pre-Nuptial agreement has often been considered to be typically “American”. One might associate such agreements with ludicrously wealthy ‘celebrities’ entering high profile marriages and consider that they are without place in our Jurisdiction. However, since the case of Radmacher in 2010, the Courts are paying ever more attention to any such agreement.

When making a financial determination the Court will do so on the basis of needs and assess each case including the parties decision to enter into such an agreement prior to marriage. In order for it to be considered, the Court must be satisfied that:

       ·         The Agreement was entered into voluntarily and without duress

·         Both parties sought, or at the very least were invited to seek, independent legal advice.

·         The Agreement was reached with each party providing full and frank disclosure of their financial circumstances

 
Even if all of the above points are satisfied, the Court maintains the power to set aside all or part of any such Agreement. The responsibility would be that of the party seeking to avoid its terms to establish that it would be unfair for them to be held to it. In addition, the very existence of a Pre-Nuptial Agreement can in itself, be enough to deter a further application for financial remedy being made.
 

For more information on Pre-Nuptial Agreements or any other Family law matters, please contact our family law team on (01756) 793333 or email: Andrew.foulds@awbclaw.co.uk or  Elizabeth.hebden@awbclaw.co.uk

 

Andrew Foulds
 
Family Law Solicitor
 
 
Tel: (01756) 692877

 

 

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