Rise Of The Pre-nuptial Agreement

New developments in divorce law mean that pre-nuptial agreements will be taken into consideration by UK courts. A panel of senior judges upheld the validity, which had not in the past been considered legal in England and Wales.

A pre-nuptial agreement is a contract entered into prior to marriage or civil union and includes provisions for the division of property and spousal support in the event of the breakup of the marriage. It can mean that a partner who has been adulterous or has failed conditions in their guardianship is awarded none of their partner's assets or money.

The controversial ruling was prompted by recent events which saw Katrin Radmacher fight off her ex-husbands bid for a bigger chunk of her fortune. The German paper heiress had previously signed a pre-nupt limiting the amount of her 100 million fortune that could be claimed by an ex-spouse. It has been welcomed as an advance in legal history by many, however, some lawyers are concerned that this could create a "rich man's charter" for the protection of wealth.

The UK now adheres to the same rules as the US and Europe, where there have been a series of bizarre high profile pre-nupt cases. In 2008 a newspaper investigation discovered that some of the stranger clauses in pre-nuptial agreements included the right to conduct regular drug tests on the spouse with financial penalties if they failed, a $100,000 bonus every time a partner was unfaithful and even a 120 lbs limit on a wife's weight.

Unsurprisingly Hollywood presents us with the most elaborate agreements. According to reports Catherine Zeta Jones and Michael Douglas have agreed that she would be entitled to $1 million for every year they spend together should they ever divorce.

The Radmacher ruling has completely changed Britain's stance on pre-nuptial agreements, and the Law Commission is now set to investigate whether a change in divorce law should be made to accommodate for fully legal pre-nuptial agreements. They will issue the report in 2012.

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About the Author:
If you need advice or representation on any aspect of family law, contact Family law solicitor Manchester and Macclesfield solicitors Hague Lambert now.

Article Originally Published On: http://www.articlesnatch.com

Tags: law , legal , money , rich , lawyers , solicitors , court , marriage , divorce , pre-nuptial agreement , family law , financial planning

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