It is not just celebrities who sign Pre-Nups. Over the last 5 years or so they have become increasingly common, although they are still relatively rare. Typically what lies behind them is that one half of the happy couple is in a much stronger financial position than the other; they are concerned that if the marriage turns out to be a disaster they will have lost half of everything. Their concern is often shared by their family.
Pre-Nups are not very romantic! We think they can be a good idea. Money is at the root of many problems but if the inequalities in a couple’s resources is a possible source of friction between them, then a Pre-Nup might allow them each to at least ‘park’ the problem for a while.
The law concerning Pre-Nups has recently been considered by the Supreme Court in the Radmacher case. This link takes you to a short article about the case.There was inevitably a flurry of press coverage of the case but we have not noticed a flood of clients asking us to prepare PreNuptial Agreements. We think the significance of the Radmacher case was probably over-stated initially; it is best seen as affiming a trend that was already underway.
Post-Nuptial Agreements (agreements made during the marriage)
A couple may wish to record agreements they make during the marriage; these may sometimes be the result of a review of their original Pre-Nuptial Agreement. Similar considerations apply to the ones outlined above for Pre-Nuptial Agreements.