Associate Grace Lawrence Featured in Tatler HNW
We are delighted to see FLiP associate Grace Lawrence quoted extensively in Tatler HNW’s article “How the Super-Rich protect their wealth: The rise of the prenuptial agreement“.
The Tatler article examines the growth in popularity of prenuptial agreements for the ultra rich following the ground breaking decision of the Supreme Court in Radmacher v Granatino (2010).
Commenting on the growing popularity of prenups particularly for HNW and UHNW individuals, Grace explains: “London has long had a reputation as the divorce capital of the world. We are one of the most generous jurisdictions in terms of the provision awarded to financially weaker spouses on divorce. The English Court views marriage as a partnership – discrimination between the roles of the breadwinner and homemaker is prohibited. Therefore, ordinarily, the court’s starting point is a 50/50 division of the assets built up during the parties’ marriage.’ Lawrence adds: ‘Against this backdrop, it is not surprising that the demand for pre-nuptial agreements has increased.”
Drawing Tatler’s HNW article to a close, Grace offers her top five tips for those individuals considering a prenup, notably:
- Start early – prenups are given less weight if signed within 28 days of the wedding.
- Ideally, the couple should agree principles and provisions between themselves – involve lawyers later on and only in the drafting.
- Blame the parents! One often sees the requirement for a prenup written in the trust fund (such as ‘beneficiary must enter into prenup on marriage, or will otherwise be disinherited’).
- It’s never too late – if already married, you can get a ‘postnuptial agreement’.
- Be careful how you pitch it to your future spouse – framing it as an ‘insurance policy’ may be helpful.
Grace Lawrence is an associate at Family Law in Partnership. She advises on all aspects of private family law including financial and children matters and pre and post nuptial agreements. She combines an empathetic and diligent approach, with a strong technical ability. Contact Grace at E: firstname.lastname@example.org or T: 020 7420 5000.