Anyone who has been through a divorce will probably tell you how awful, upsetting, distressing or bitter it was. Perhaps most of all, however, they will complain about how expensive it was, not only in terms of the legal fees expended, but the fact that property was sold or transferred, maintenance payments ordered and pensions shared.
With 15% of marriages being second (or third…or fourth marriages), those people stung in divorce proceedings, who are embarking on a second or further re-marriage, would want to ensure that, in the unfortunate event that they face another divorce, they are not faced with a re-run of their previous experience and might consider a pre-nuptial agreement.
KA v MA (Prenuptial Agreement: Needs) [2018] EWHC 499 (Fam)
The recent divorce case of KA v MA, has highlighted the significance of having a pre-nuptial agreement in place. The case involves a couple who were married for the second time. Prior to the marriage, the husband insisted that his fiancé sign a pre-nup, which she did, despite receiving legal advice that she should not sign it.
The husband had previously endured bitter and protracted divorce proceedings from his first marriage. His insistence on a pre-nup before his second marriage served him well, particularly when the Court upheld the agreement despite his wife’s protestations during the divorce proceedings
Despite the husband paying over £1 million more in the financial settlement than he wanted to pay (the husband wanted to pay £1.6 million to his wife but the Judge made a needs-based award of £2.95 million), it was still worth him having the agreement in place. Without the pre-nup in place, the Court may have taken into consideration the significant wealth that the husband had acquired prior to the marriage and awarded much more money to his wife.
Comment
Many people think that pre-nups are unromantic or do not want to talk about money or contemplate the breakdown of their marriage. However, nuptial agreements (which include both pre and post nuptial agreements) are becoming more and more common place.
I would urge any couple, particularly those entering into a second marriage, to consider the benefits of nuptial agreements. A nuptial agreement can help you preserve pre-marital assets for your benefit or the benefit of your children, and can reduce acrimony or increase certainty on the breakdown of a marriage.
With the Court’s increasingly upholding pre-nuptial agreements when they are entered into in the right circumstances, it is definitely worth obtaining advice about what you can do to protect yourself on remarriage.
How Nelsons Can Help
Emma Davies
is a specialist Family Law Solicitor at Nelsons.
If you need advice on pre-nuptial agreements, divorce or any other family related matter, please contact Emma and she will be happy to discuss your circumstances in more detail and give you more information about the services that Nelsons’ family law solicitors can provide.
Emma can be contacted on 0800 024 1976 or via our online form.