recently been reported that there has been a surge in pre-nuptial agreements
fuelled partly by entrepreneurs wishing to protect their fledgling businesses
and future profits from any possible divorce settlements down the line.
The new wave
of pre-nups tends to suggest it is not just those who already have established
businesses and wealth who are seeking to protect their fortunes, but business
owners who expect to make money in the future.
businessmen and women are realising the importance of pre-nuptial agreements in
the context of their business start-ups and no doubt want to ensure that their
hard work in forging a successful enterprise does not go to waste in what could
be acrimonious divorce proceedings years later. Just like any other contracts
made at the start of a business venture, it seems that many entrepreneurs now
see pre-nups as another important aspect of business planning.
The ruling in
the Radmacher case, in which the husband of German heiress Katrin Radmacher
attempted and failed to have their pre-nup set aside, has also without doubt
added to the increase in these types of agreements. The judgement essentially
made pre-nups more enforceable in law, meaning that they should now be a
consideration not only for wealthy individuals but also for people starting out
in the commercial world who want to avoid the potential business instability
that divorce and financial remedy proceedings can often entail.
Shirin Pishbin is a trainee solicitor in the Family Law department. You can view her profile here.