It was reported over the weekend that Stevie Wonder has filed for Divorce from his wife Kai. The two were married in 2001 and have two Children together. The reports suggest that care of the Children will be shared and that the two will part as friends.
Inevitably, given the undoubted wealth that Stevie will have acquired over his career, the question of a Pre-Nuptial Agreement will be uppermost in the mind. Much of that fortune is likely to come from the music he recorded prior to the marriage and it remains to be seen if such an agreement was drawn up between the couple and how, if at all, it can regulate any agreement over a financial settlement.
In this country, the Pre-Nup has attracted a lot of press over recent times. There is uncertainty as to the validity of the documents.
Whilst there is still no law confirming that they are legally binding, the courts have demonstrated an increased willingness to follow their terms, provided that the couple in question have had independent legal advice and provided full disclosure of their respective financial positions to each other well before the marriage has taken place.
The terms of any Pre-Nup must also be fair and it also helps if the agreement is revisited periodically throughout the marriage. For example, once children come into the equation, what may have seemed fair prior to the marriage may suddenly seem very prejudicial to either a husband or a wife. It must be remembered that the courts in this country will treat the welfare and needs of young children as the most important thing when dealing with a Divorcing couple's financial settlement.
A Pre-Nup is not suitable for everyone. At Russell Jones & Walker, part of Slater & Gordon Lawyers we have experienced Family Law Solicitors who can advise on whether such a document is necessary and exactly what will be required to ensure the Pre-Nup does the job it is supposed to do, namely ensure that in the event of marriage breakdown, the often difficult arguments over a financial split can be kept to a minimum.
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