With famous parents David and Victoria Beckham’s fortune worth around £380 million and Nicola’s financier father Nelson’s wealth far outweighing that at an estimated £1.3 billion, it’s hardly surprising that the couple entered into a substantial prenup. Even though the wealth belongs to their parents and not themselves, they will want to protect their anticipated inheritance and are likely to have already amassed substantial assets themselves. They will not want to risk their own fortunes, or those of their parents should anything go wrong in the future.
Of course, prenuptial agreements (prenups), or preregistration agreements where there is a civil partnership, are popular amongst the very wealthy such as Brooklyn and Nicola, but they are not only useful for the super-rich and famous. Prenups are being used more and more by people with more modest assets, as people realise how they can protect interests such as:
- Savings, trust funds and investments, such as stocks and shares
- Past and possible future inheritances
- Business interests
- Pensions and retirement funds
- Income, both present and future
They can also be particularly useful in second marriages with blended families where parents might want to protect assets for children from a previous marriage.
Whilst very few couples will have the luxury of a £3 million wedding in their parents’ £76 million oceanfront house in Palm Beach, many couples in the UK are signing prenuptial agreements, giving them the opportunity to set out their express intentions as to what should happen if they divorce. Prenups are legally binding in the USA, and whilst that is not the case in England at present, they are becoming more and more accepted by the courts as proof of a couple’s intentions should they decide to divorce in the future. However, if a prenup is to have a chance of being given any weight by a court, it is vital certain criteria are met and that the agreement is properly drawn up and both parties receive proper legal advice
If you are getting married and thinking of entering into a prenuptial agreement or pre-registration agreement, contact our expert lawyers now. We can guide you through the requirements and process to help make sure that your plans for the future, should you divorce, have the best possible chance of success. You can also find out more about prenuptial agreements on our web pages.
Author: Bradie Pell, partner and head of the family department.