Rooney Scores But Will There Be Penalties Later?
Pre-Nuptial Agreements
23/06/2008
A leading family lawyer is predicting that meetings with a solicitor prior to marriage could become commonplace after plans were revealed last week which could see Pre-nuptial agreements becoming legally binding in England and Wales within a few years.
The news came on the day that Manchester United player Wayne Rooney and fiancée Coleen McLoughlin announced that they married at the Villa Durazzo in Portofino, Italy.
Although the new Mrs Rooney has on previous occasions declared that the couple would not sign a pre-nuptial agreement before their marriage, many others have regretted their decision not to do so. This list must include Sir Paul McCartney whose legal battle with his ex-wife Heather Mills was a lesson in how a dispute can affect a person’s finances and reputation.
The law commissions proposals would see pre-nuptial Agreements given the same legal status as they currently receive in many other countries including the United States has been welcomed by Martin Loxley, Head of Family Law at law firm Irwin Mitchell.
Mr Loxley believes the legislation of pre-nuptial agreements would make the division of assets clearer should a marriage result in divorce.
He said: "Just the same as you would take classes with your religious leader before getting married, what I see as the inevitable enforcement of pre-nuptial agreements will mean that the need to see a solicitor before walking down the aisle is all the more important.
"However, I don't believe this is a bad thing as couples will be entering into the marriage fully informed of how money and property will be split should the unfortunate happen and the couple divorce.
"Like with any other type of contract, couples will be bound by the terms of the pre-nuptial - except in exceptional circumstances - providing everyone had full disclosure and understanding of the terms."
Pre-nuptial agreements can already be drawn up but UK courts are not currently bound by them.
Mr Loxley said: "Pre-nuptial agreements can not only save heartache and bitter rows in court over who has what amongst a couple, but on a larger scale it is in the interests of the Government as it keeps more litigation out of court. The UK is currently lagging behind a lot of our European counterparts who already have enforceable pre-nups and the balance needs to be changed so that the courts are bound, except in exceptional circumstances.
"I've had a number of clients from other countries who now reside in the UK who have commented that they wouldn’t have had the same kind of problems with their divorce if they had been in their home country and don’t understand why we still don't enforce pre-nups here."
Based on case evidence over the years, Mr Loxley believes some people do not want a common sharing of assets and following a divorce, a large proportion can be put off marrying again due to suffering in the outcome of the previous divorce and feeling wary about it happening again.
Providing both parties sign up to a pre-nuptial agreement well in advance of the wedding so no undue pressure is placed on anyone, each person has taken independent advice and they disclosed their financial position to each other, Mr Loxley believes a pre-nup would actually give the reassurance to those concerned about re-marrying.
Mr Loxley said: "If pre-nups were enforceable they can help avoid future heartache and distress, helping couples to resolve more matters themselves rather than having courts impose settlements."