Will Jenny from the Block have a pre-nup?
The announcement that Jennifer Lopez has become engaged to former US baseball player Alex Rodriguez has caught the public’s imagination. The couple, widely referred to as ‘J-Lo and A-Rod’ have been dating for two years.
Their combined wealth is staggering: Jennifer Lopez is estimated to be worth an incomprehensible 400 million dollars, and her fiancé, Alex, isn’t worth much less, at 350 million dollars. Because of this, the couple will no doubt be seriously considering entering into a pre-nuptial (pre-nup) agreement. Lopez has been married three times previously, and Rodriguez once. So, although everything bodes well for them for the future, they will be aware of the importance of protecting their assets in the unlikely event that things go wrong.
However, things are a little different for Lopez and Rodrigues as, in New York, pre-nups are binding, whereas in England and Wales they’re not. So is it worth considering a pre-nup if you are marrying in England in Wales? In short, yes.
The benefit of a pre-nup is, should the marriage end in divorce, you can aim to limit any claim to what your ex-partner ‘needs’ as opposed to having to share all your wealth with them. Don’t be fooled though, as ‘needs’ are generally way over and above what you or I may need to get through the month and usually include housing.
To have the best chance of being taken in to account by an English court a pre-nup needs to tick the following boxes:
Should a high earning capacity be shared upon divorce?
The Court of Appeal has released judgment in the case of Waggott v Waggott saying no it shouldnâ€™t and dismissing the wifeâ€™s appeal.