12 Sept 2024
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It is reported that Jennifer Lopez and Ben Affleck’s divorce has the “potential to become ugly”, as it is believed by many that surprisingly, they did not have a pre-nuptial agreement in place before tying the knot 2 years ago.
Whilst both Lopez and Affleck are millionaires with vast fortunes to protect, everyone should consider getting a pre-nuptial agreement in place before they say “I do”, even if you don’t have substantial assets to rival those in Hollywood.
A pre-nuptial agreement is a legal document that a couple can enter into prior to their marriage, which sets out how they would wish to divide their assets, incomes and pensions, should their marriage breakdown in the future.
A pre-nuptial agreement can seek to protect assets acquired by either party before the marriage, such as property, other investments and businesses and can also be used to seek to protect a family inheritance that has been received or which one expects to receive in the future. Those who have already accrued their own assets which they wish to protect, older couples, those entering into their second marriage or those with children from another relationship, should all therefore consider a pre-nuptial agreement, which can in the right circumstances, help to reduce the possibility of becoming involved in expensive and stressful legal proceedings, should the marriage break down.
In England and Wales, whilst pre-nups are not automatically legally binding as they may be in other countries, the Courts here do have the discretion to uphold them in appropriate cases, provided that certain criteria are met. Therefore, whilst they may not always be strictly enforceable, they can still be persuasive to the Judge who eventually deals with the divorce.
Crucially, a pre-nuptial agreement should be considered by the parties well in advance of their wedding, with both parties obtaining their own independent legal advice.
Legal advice from a specialist family lawyer is therefore essential, and you can contact our team of experts for legal advice you cant count on.
