The law in relation to pre-nuptial agreements is one of the most changeable that we at Higgins Miller deal with. In the last week alone there have been some major developments.
Earlier last week the Law Commission published a report called Matrimonial Property, Needs and Agreements. The report recommends, amongst other things, that it should be made easier for couples to manage their finances following divorce by a changing the law to make pre-nuptial agreements legally binding. It suggests that to become legally binding an agreement would have to comply with certain rules to ensure that it was fair. Currently such agreements are not enforceable but can be taken into account by a court when a couple separates.
On the other hand there was then a decision on Friday whereby a Judge overrode a prenuptial agreement and awarded a settlement contrary to what the parties had agreed in advance.
This area of family law continues to be complex and ever changing and it is therefore especially important to take proper legal advice before entering into an agreement. To speak to one of our solicitors about any aspect of matrimonial finance including pre-nuptial agreements please contact us.