London, United Kingdom (PressExposure) October 21, 2009 -- One in ten solicitors even says that they think this increase will be significant while only 2% of divorce solicitors think there will be a decrease in the number of people seeking prenuptial agreement in the next five years.
England and Wales donât currently enforce prenuptial agreements, although some courts may uphold them. However with the Law Commission looking at this issue and the Conservatives wanting to make them legal, prenups could soon become law. With high profile payouts where prenups werenât enforceable in the McCartney / Mills divorce case and for heiress Katrin Radmacher, any further movement on this area of law will be closely watched.
Four out of five (82%) divorce solicitors say that a prenuptial agreement can be an effective way of protecting your assets in a divorce proceeding. However 52% of solicitors say that a prenup will only protect assets in certain circumstances while 30% say they will protect your assets in a variety of circumstances.
Although prenuptial agreements are not entirely legally binding, 20% of solicitors say they have been approached to challenge or support a pre nuptial agreement in the past 12 months.
Karen Barrett, Chief Executive of Unbiased.co.uk, says, âWith current divorce rates and highly publicised divorce cases making front page news it is not surprising that more people are looking to protect their assets ahead of getting married. While prenuptial agreements are not currently legally binding it is looking increasingly likely that they could be in five years time so some may feel it worth getting these agreements in place now just in case.
âOf course no one gets married with the intention of getting a divorce however should you need to seek a divorce then a family solicitor will be able to help you through the divorce process to ensure you get everything you are entitled to from the final settlement. A discussion with an IFA may also be beneficial as they can advise you on how best to best liquidate and possibly split assets to meet the prenuptial agreement, they can calculate your wealth including all pensions and can help you financially plan for the futureâ.
* Opinium Research conducted on behalf of Unbiased.co.uk amongst 50 divorce solicitors listed on the Unbiased.co.uk Find a solicitor search