Pre/Post Nup Agreements and Grandparents

Jennifer Duckett, a Trainee Solicitor in our Family Department, this month has had her first article published in the Grandparents Times. Read Jenny's article on Post/Pre nup agreements below.

Recently the Supreme Court heard the case of Radmacher v Granatino; where the court upheld a prenuptial agreement made between Ms Radmacher and Mr Granatino. The law in England and Wales did not automatically uphold the prenuptial agreement although it had been a factor to take into account to determine settlement. The case of Radmacher v Granatino is now the leading authority on marital agreements. The husbands appeal was dismissed and the majority of the 9 Supreme Court Judges hearing the case consented to uphold the agreement on the basis that consenting adults should reasonably be expected to stick to their own agreements. Marital agreements are not binding in England and Wales since the Radmacher case, but they have more support than ever.  

What was not discussed was the impact the decision will have on grandparents and parents of parties who are divorcing. Parents most often naturally wish to provide for their children either by way of inheritance or by way of gift or loan however they do not think about the methods of protection which are available to themselves or their children/grandchildren:

Cohabitation/Prenuptial agreement for your child/grandchild: These will ensure any assets acquired by your child/grandchild from you will remain with whom you originally intended it for. It is an assurance for both you and your loved one.  

Your child or grandchild may be offended by the suggestion of a prenuptial agreement; many people feel they undermine the trust in a relationship and pre-empt a divorce or breakdown. Karen Radmacher argued that by signing a pre-nuptial agreement she had sought to ensure that she was entering into a loving relationship in which her husband valued her for who she was and there was  no consideration of her financial worth.

Another view is that a marital agreement is like an insurance policy which one hopes one will never have to use or even think about again after signing it.

 It is advisable for couples to consider such things prior to marriage/cohabitation and an open and frank discussion should be factored into a trusting relationship. Although marital agreements are somewhat unromantic they have numerous practical benefits.

Cohabitation/Prenuptial agreement for you: If you are a parent or grandparent and you yourself are planning to remarry then you may also wish to protect your assets. As we progress through life our family situations become more extended and more complex especially if we are contemplating remarriage.

These issues can be complex and require careful consideration and advice.  If you would like to know more please contact Jenny or any member of our Family Team