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Cheryl Fernandez-Versini has filed for divorce…..again!

Hi!

It has been brought to my attention this week that Cheryl Fernandez-Versini has filed for divorce… again. Yes, I am fully aware that I am late to this particular party and that this is now considered ‘old news’.  However what really drew my attention to this (apart from the usual celebrity glamour) is that Cheryl had not entered into a pre-nuptial agreement with her to then soon to be husband.  Nor had she done so when marrying her first husband Ashley Cole, stating at the time she found the concept of protecting her wealth from her husband in this way ‘disgusting’.

When she split from her first husband in 2010, it is reported the pair agreed to split their joint assets worth £10 million on a 50/50 basis, selling their £6 million house in the country and their flat in north London. However the situation may not prove as amicable with her French entrepreneur husband, Jean-Bernard Fernandez-Versini.

The pair married on the Caribbean island of Mustique in July 2014 after meeting only several months beforehand. It was a whirlwind romance.  He speaks very little English and her French isn’t much better reportedly.  After 13 months of wedded bliss they split and 5 months later Cheryl issued divorce proceedings.  And here is where Cheryl may begin to wish she’d entered into a pre-nup – Jean-Bernard is asking for £3 million to settle out of Cheryl’s £12 million fortune.  After a relationship which lasted a little over a year!

A Pre-Nuptial Agreement sets out what should happen to the assets in the event of a divorce. In England and Wales, these sorts of agreements have had a difficult history with the family Courts traditionally not being prepared to uphold their terms.  Thankfully, over the years Pre-Nuptial Agreements have become more acceptable to the Courts depending upon all the circumstances of the case.  In fact, the Supreme Court has delivered several ground-breaking decision in this respect stating that Pre-Nuptial Agreements will be upheld as long as certain safeguards are put in place, i.e.:

  1. Full and frank financial disclosure is undertaken when negotiating this agreement;
  2. Both parties have independent legal advice on the agreement; and
  3. The agreement is signed no later than one month before the wedding.

A Pre-Nuptial Agreement is worth considering if, for example:

  • You are bringing assets into the marriage.
  • You have the benefit of a Trust Fund.
  • You have significant pension provision now or in the future.
  • You are considerably better off than your other half.
  • This is your second or third marriage.
  • You have children from a previous marriage/relationship and you wish to protect their future.

The message here is – don’t be put off by the thought that pre-nuptial agreements are ‘disgusting’ or un romantic. They are simply good financial planning and should be considered before entering into a marriage.  After all ‘marry in haste, repent at leisure’ Cheryl.

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