Family & Divorce Solicitor Caroline Watson explains the importance of setting out the terms of a financial settlement in a Pre-Nuptial Agreement, "just in case" of a divorce.
The Daily Mail published a story this week suggesting that model Heidi Klum and singer Seal, who have been happily married for 6 years will be pursuing a divorce due to irreconcilable differences.
The couple married in Mexico in 2005 and have three children together, whilst Heidi has one child from a previous relationship, whom Seal adopted shortly after their marriage. With Heidi Klum rumoured to be worth an estimated $70 million, having earned a reported $20 million just last year and Seal’s wealth a significant amount as he is one of the most well known soul singers around, it will be interesting to see whether theirs will be an amicable and private separation or a messy affair which ends up splashed across the tabloids.
If they did enter into a pre-nuptial agreement before marrying then this should greatly reduce the uncertainty regarding their financial settlement. A pre-nuptial agreement can set out the division of a couple’s finances on a separation and even deal with where the children will live and how much financial support one parent will make to the other for the benefit of the children. Pre-nuptial agreements can also include clauses prohibiting a couple from disclosing information about the other and discussing their separation in the press.
Although pre-nuptial agreements are not legally binding in England & Wales (at the time) since the Supreme Court decision in the case of Radmacher v Granatino (2010), English Courts will give effect to a pre-nuptial agreement if it is freely entered into by each party with a full appreciation of its implications and provided it is not considered to be unfair.
With Heidi Klum and Seal ‘the golden couple’ considering ending their marriage, it is important to remember that pre-nuptial agreements should be carefully considered by any engaged couple. Although we all like to think that love lasts forever, unfortunately it is not always the case.
For details about a Fixed Price Pre-Nupital Agreement or for assistance call Slater and Gordon on freephone 0800 916 9046 or contact us online and we'll be happy to help you.
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