Should one enter into a pre-nuptial agreement? The Royal Wedding presents a pertinent family law issue

By Clare Foster @ Apr 19, 2011 in Family Law
19
Apr

The big day is growing ever closer for Wills and Kate, sorry Catherine. For some, they will have their Union Jack banners out and the street parties organised. For me, I am working out where will still be open so I can escape the hype!!

As one of the most high profile weddings in years, the Royal Wedding does present an interesting dilemma from a family law perspective. Does William whisk Kate to the solicitors and ask her to enter into a pre-nuptial agreement? Or indeed vice versa, as Kate herself is from a family who have a significant self-made fortune.

For both of them the main advantage of a prenuptial agreement would be that it  provides some protection in terms of inherited wealth, certainly for William at the moment and in the future for Kate. They are both intelligent enough to enter into such an agreement knowing the potential consequences.

However, William and Kate's children will be the potential heir to the throne after Prince Charles and William himself.  Can a fair and sensible agreement ever be achieved with children, particularly children who may in time become King or Queen?

Even if they did decide to enter into a pre-nuptial agreement, the agreement is not legal or binding - it is simply a document that the court will place heavy weight upon when considering how to divide the matrimonial assets should they ever divorce. The law is however expected to change in this regard.

One certainly hopes that one and one's spouse to be has found enough time in their busy schedules and wedding day preparations to seek advice from a family law solicitor!

Whatever they decide to do, I am sure it will not detract from what is expected to be a major spectacle watched by over 2 billion people! I think Kate may definitely have wedding day jitters!

Comments

#1 Clare Foster @ May 18, 2011

Hi Andy There is always that argument, why have one if both "loaded"? But there still may be a huge variation in wealth that would warrant a pre-nuptual agreement. It also depends on where that money has come from. If the wealth is from inherited assets / family wealth then it is clear a pre-nuptual may be entered into as we often see families wanting to protect their wealth. Also, what would happen if one person lost all their wealth? If no pre-nuptual the poorer party would get a share of the richer party's assets. If there was a pre-nuptual, then the poorer person would only be able to ask for more money from the richer party if they can show a need. If both parties are wealthy, I would think there is even more of an argument to consider a pre-nuptual.

#2 Andy @ May 18, 2011

Two loaded families, why the need for a prenup? Whatever happens I don't think either of them's ever going to be strapped for cash.

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