Pre-Nups And UK Law
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Until recently, prenuptial agreements were seen as an American practice, something that most British couples would not consider entering into. However, pre-nups are not just an American habit; they are popular and legally enforceable in Australia, and most of Western Europe. Despite the fact that they are growing in popularity in many other countries, getting them fully enforced in the UK is still a legal lottery.
Prenuptial agreements have never been legally binding in the UK. When a couple cannot agree on how to divide their assets it is the divorce courts that have the final say on the division of those assets. If a pre-nup exists between the couple, the court will usually take its contents into consideration, but nothing more.
Oddly, should a couple who are not married, but live together, draw up a contract similar to a pre-nup that is legally binding. This also applies when couples who are in a civil partnership draw up a contract. That is if the agreement has been legally drawn up and properly witnessed. Many couples in common law or civil relationships sign these agreements believing that the law will hold it as invalid if the terms of the contract are abusive just as happens with a pre-nup contract between married couples, but this is not the case, the agreement is binding.
For a contract between married couples to stand a chance of being upheld by the courts, both parties involved have to show that they both received legal advice prior to signing the pre nuptial contract. Even then, should the pre-nup agreement contain harsh terms that disadvantage one party the divorce judge can ignore the agreement. This is especially true if the terms of the agreement leave any children without proper financial support.
In the winter of 2010 new laws are expected to be passed in the UK that will make pre-nuptial agreements legally binding. Those agreements will be required to meet certain standards designed to stop people from entering into radically unfair arrangements. Those pre-nups that do not meet the required standards will not be legally enforceable.
Article Source: Articlelogy.com
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