Make pre-nups legally binding says Law Commission
It could prove a noteworthy day.
Further to our previous post, on 27th February 2014 we moved a step closer to pre-nuptial and post-nuptial agreements becoming legally binding.
The Law Commission published its report on the status and enforceability of marital property agreements, including pre-nuptial, post-nuptial and separation agreements.
As expected, the Law Commission report supports making pre and post-nuptial agreements legally binding in England and Wales.
Time for the government to act?
The commission advises the government on updates to the law and the government will now consider the Law Commission's recommendations.
If the government agrees with the report and changes the law then couples would then be able to legally agree the terms of a divorce before marrying.
The current situation
Currently, married couples and civil partners can make agreements but they are not formally binding in England and Wales. Courts do not always uphold them.
However, since the landmark Supreme Court case of Radmacher v Granatino in 2010, the courts do give significant weight to pre-nuptial agreements.
If the law changed
If the law was changed as the report recommends, married couples and civil partners would be able to make a binding agreement about how their property or finances should be shared if their relationship breaks down.
This would be particularly helpful for those considering second marriages who want to protect property for their children.
What about you?
Have you made an agreement with your partner?
Do you plan to make one in the future? Do you think the law should be changed?