14 July 2010
Pre-nups to become legally binding
Divorce courts throughout the UK could be set for a wholesale shake-up following proposals to legally enforce prenuptial agreements.
Divorce payouts have escalated over recent years, with couples determined to receive what they feel is rightfully owed by their ex-spouse. But a move to ‘American style’ divorces could see prenuptials, or pre-nups, become legally binding for the first time in British courts.
Drawn up by couples to establish how assets would be divided up in the event of a divorce, pre-nups are not enforced in British courts, although they may be taken into account by a judge when deciding division of assets and divorce payouts.
However, in an effort to keep divorce payouts down and halt the developing ‘fear’ of marriage, the Law Commission is expected to propose making pre-nups legal.
"A lot of people have said to us they are deterred from marriage by the current law. If the current law is deterring marriage that isn't good for public policy,” said Professor Elizabeth Cooker, the Law Commissioner in charge of family law. "One option will be to recognise the pre-nup and the post-nup.
“There is a certain amount of financial carnage when people get divorced. A well drawn up pre-nup can give greater predictability.
"There is nothing that will take away the general pain of divorce but it may be that pre-nups can go some way to making things more certain."
Pre-nups, already enforceable in the United States, Australia and much of Europe, will form part of upcoming consultations between The Commission and fellow family law experts in the coming weeks.
While divorce is never a happy prospect, for many it is the best solution to a crumbling marriage. If you feel the time is right to separate from your partner, or you’re concerned about the consequences, speak to your family law solicitor today and discover the best and healthiest course of action.