Family

Family PreNup

Until now prenuptial agreements have had little legal force in English law, a situation that changed in October 2010 when the Supreme Court established a precedent and ruled in favour of a German heiress, whose pre-nup was challenged when her ex-husband claimed that he hadn't realised how one-sided it was when he signed it.

Our new insurance has some conditions:

  • While it provides funding if the pre-nup is challenged in court, only preapproved solicitors can offer cover. To avoid adverse selection, practices must agree to offer the insurance with all of their prenup agreements going forward.
  • The agreement must be kept up to date and amended to reflect any significant change in circumstances:?childbirth, inheritance or changes in earning power, for example - and all policies are subject to a degree of participation from the insured in the shape of a 10% contribution clause.
  • Cover for legal costs ranges from £50,000 to £500,000 and annual premiums start at £500, depending upon the cover chosen and the charge-out rates of the law firm. The policy can be issued once the pre-nup is signed and cover is activated on the day of marriage or civil partnership.
  • Two cover options will be available: The Standard version will provide a simple indemnity from legal expenses in defending a challenge to the pre-nup. A wider, Enhanced cover will include other expenses such as mediation, and if that fails, the cost of a contested divorce.

To register for an information pack please email: pre-nup@tsginsurance.co.uk