Pre-nuptial agreements growing in popularity and clout, reports law firm

Published: 24th April 2008

A leading law firm says more couples are seeing the value of pre-nuptial agreements as evidence grows that they are becoming more legally binding.

Mace & Jones said a greater number of its clients wanted pre-nups, having been influenced by high profile divorces by the likes of Paul McCartney and serial divorcee Susan Crossley - thought to be worth £18 million after three previous divorces from wealthy men.

Mace & Jones family law partner Emma Collins said as people married later there was more demand to protect assets in case of marital breakdown.

"Pre-nups are not yet legally binding but people are seeing that they are having greater influence," she said. "The recent case involving Susan Crossley, saw her abandon her claim after a judge gave strong weight to a "pre-nup" between her and her former husband. This could well have an impact on future cases. Moreover, with more and more lawyers calling for pre nups to have more weight it is possible the area could be reviewed."

Ms Collins pointed to research by Grant Thornton which further reinforced the evidence showing that pre-nups are on the increase.

Grant Thornton's Forensic and Investigation Services practice survey showed that more than three quarters (77%) of lawyers said that the demand for pre-nups had increased over the past year (up from 67% in 2006 and 54% in 2005).

In addition the number of lawyers voicing the belief that pre-nups should be legally binding has increased dramatically. For the first time, more than half (56%) of lawyers surveyed thought that pre-nuptial agreements should be legally binding, up from 37% the previous year.

Ms Collins added that a pre-nuptial agreement is more likely to be upheld where a marriage is short and childless.

"The courts will always look at how much the parties knew about each other's finances before signing and how near to the marriage they entered into the agreement ,because of the risk of duress," she said. "A pre nup is unlikely to be upheld where it would cause significant injustice."