Pre-nuptial Agreements Become Binding
This week has seen the Supreme Court rule in favour of one of Europe’s richest women, in a landmark case that finally sees pre-nuptial agreements being enforced in this country.
Katrin Radmacher, a German paper heiress, asked the Supreme Court to recognise a pre-wedding agreement signed by her ex-husband, former investment banker, Nicolas Granatino. The agreement stated that he would not make any claim on her fortune in the event the marriage broke down.
Granatino insisted that the pre-nuptial agreement the couple signed in 1998, was not valid and claimed that at the time he had no idea of his wife's £106 million wealth, he insisted that he had not had proper legal advice, and that the agreement had not been translated from German.
The couple who met in 1997 married quickly, but by 2006 the marriage had fallen apart. Granatino argued that he should be entitled to financial relief. Initially he was awarded £5.85 million of his former wife’s fortune but this was reduced to £1 million maintenance, after Miss Radmacher took her case to the Court of Appeal.
After upholding the couple’s agreement The Supreme Court laid down the following guidelines on the enforcement of pre-nuptial agreements: "The court should give effect to a nuptial agreement that is freely entered into by each party with a full appreciation of its implications unless in the circumstances prevailing it would not be fair to hold the parties to their agreement."
In light of the court’s decision why not speak to our expert solicitors today, who are able to provide full information regarding pre-nuptial agreements.