Nicole Kidmanís Pre-Nuptial Agreement
On Saturday Nicole Kidman married singer Keith Urban. It is claimed that prior to the marriage, they entered into a pre-nuptial agreement. From Nicole Kidmanís fortune of $150,000,000, Keith Urban will receive $600,000 for each year that the marriage survives. If however he returns to using drink or drugs, he will receive nothing.
Although pre-nuptial agreements are common in Hollywood and throughout the United States, they were until recently, rare in the UK. Andrew Newbury, Family law specialist and a Partner at Pannone LLP, explains, ďThe tide has however turned over the last few years in England for various reasons. The first reason is that they are starting to be accepted by the courts, the second reason is that agreements entered into by celebrities such as Nicole Kidman mean that they gain greater publicity and the third reason is that they are starting to become more socially acceptable. Although a few years ago people would be shocked or surprised at the suggestion of a pre-nuptial agreement, to many people they are now viewed as part and parcel of preparing for a wedding.
However, unlike the United States, pre-nuptial agreements are not binding in the UK. Even though they are not binding, UK courts are likely to uphold them on divorce when they have been properly drawn up. As long as the terms of the agreement are fair and both the husband and the wife have had independent legal advice and there has been full disclosure of financial information, such agreements can be difficult to challenge. The final precaution is that they should not be entered into the night before the wedding, but should be drawn up at least 28 days before the wedding date.Ē
High-profile big-money divorce settlements such as the £5,000,000 recently awarded to Melissa Miller mean that many wealthy men will not even think of marrying without the security of a pre-nuptial agreement.
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