Friday, May 29, 2015

Prenuptial Agreements Accepted by Court by Tim Bishop

While the English courts are under no legal obligation to enforce a prenuptial agreement, a landmark case, which was dealt with by a London supreme court, has meant that they can now be seriously considered by couples planning to wed.

German heiress Katrin Radmacher wanted to protect the ? million inheritance she was due to inherit from her father, from former husband, the French-born Nicolas Granatino.

The case was important because under English Law, where the prenuptial agreement (also known as a prenup) would not have normally been taken into consideration, as a former spouse was able to protect her assets from the clutches of her husband. And it was all down to a prenuptial agreement made over a decade earlier.

The fact that the agreement between Radmacher and Granatino would have been accepted by the courts in their respective countries of birth, would have meant little to a UK court. However, by deciding to take the prenup into account it gave the signal that such agreements in this country may now have some bearing on decisions taken by UK divorce courts. However, it must be fully understood that as far as the UK is concerned, our courts are still under no obligation at all to recognise such an agreement.

Arguably, that has left the concept of the prenuptial agreement in some kind of a legal limbo as far as the United Kingdom is concerned. But now that the country's top court has ruled that they can be taken into consideration, British couples contemplating marriage should most certainly consider them. This means that couples should make sure that their prenuptial agreement is drafted in such a way that the courts are more likely to take it into consideration.

If a couple is considering making a prenuptial agreement, there are two important things they should know. The first thing to know is that the courts are less likely to pay attention to a prenup if the marriage has not lasted long. Secondly, it must be signed at least 21 days before the wedding takes place. This is to make sure that nobody can claim that they signed the agreement while under duress.

A prenup can be drawn up without consulting a solicitor, but this is not recommended. With UK courts under no obligation to take such an agreement into account, it is vital it is watertight. Therefore, a carefully constructed prenuptial agreement, drawn up with the assistance of a solicitor who specializes in prenups, is essential.

http://www.articlecity.com/articles/legal/article_2896.shtml

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