Pre-nuptials: reasons to be careful
Planning for the divorce before you get married is, for many, unthinkable. Safeguarding against financial loss is regarded as the preserve of the stinking rich. However, with two in five marriages ending in divorce in this country it might be wise to take precautions.
Although pre-nuptial agreements are not yet legally binding in Britain there are proposals to change the law. Some judges already take pre-nuptial agreements into account when ruling on divorce settlements. It’s often the dividing up of spoils that causes most conflict in a break-up. What most couples, and women in particular, do not realise is that, if a break up turns sour, they have much more to lose than they think. That favourite armchair or chipped mug can become a bone of contention in an acrimonious split. A pre-nuptial agreement allows both parties to agree on a fair and acceptable division of property, personal possessions and financial assets.
Celebrities have quickly wised up to the benefits of signing on the dotted line: Michael Douglas and Catherine Zeta Jones recently agreed on a private settlement after she was rumoured to have asked for $3 million for every year they are married plus a free home. Douglas was naturally reluctant having reportedly paid out $40 million to his ex-wife.
Scary Spice Melanie Brown ignored her mother’s advice and resolutely refused to sign a pre-nuptial agreement before her marriage to dancer Jimmy Gulzar. He now wants a reputed £3 million of her estimated £20 million fortune.
But celebrities have megabucks to lose. Is it really worth sacrificing trust and romance for the CD collection and the family dog – especially as there is no guarantee a pre-nuptial agreement will be recognised in court?
Next page: The legal perspective
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