Divorces involving a family business
The importance for business owners to seek early advice to minimise future problems should their marriage break down in the future.Read more
The agreement sets out what will happen to your assets should your relationship break down and can minimise the risk of disputes and expensive court proceedings.
Although not automatically binding in England and Wales, the landmark Supreme Court decision in the case of Radmacher -v- Granatino in October 2010, was that nuptial agreements “freely entered into” would be upheld, but only if there were no factors rendering it unfair to do so.
To make an agreement fair, it should meet both yours and your partner’s needs and must be within the parameters of what a court would be likely to order in divorce and related financial proceedings. For example, if an agreement provided for a young wife with four children to leave the marriage with £100, the court would ignore it and exercise its discretion to make appropriate provision for her. The court will not allow one partner to be left in a predicament of real hardship, whilst the other has more than enough to meet their needs.
To maximise the agreement’s influence over a court, the following safeguards should be met:
Our team of family solicitors is highly experienced in reviewing and preparing nuptial agreements. They take the time to gain a full understanding of your objectives and use their technical expertise and drafting skills to maximise the influence that the agreement will have on a court in the event of a divorce.
If you would like further information on how we can assist you with making a pre or post-nuptial agreement, please contact the Family & Matrimonial team on 01332 226 467 or complete the form below.
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