Simon Entwistle has taken his case to the Court of Appeal following a ruling by the High Court that he should receive an award of £400,000 on divorce in circumstances where his wife, Jenny Helliwell, was worth upwards of £60 million, with him also being required to pay £75,000 towards his wife’s legal costs from the sum awarded.
He was reportedly criticised during the proceedings for his aspirational claims including £36,000 a year on flights and a £26,000 annual meal budget as he argued that he could not even cook an omelette.
One of the key factors in this ruling was the existence of a “drop hands” pre-nuptial agreement. The judge found the agreement was clearly drafted and that Mr Entwistle knew what he was signing. This was despite there being limited legal advice or financial disclosure and the fact this was signed on the day of the wedding, adding to the potential argument that Mr Entwistle felt under pressure to sign – we aim to complete all pre-nuptial agreements at least 4 weeks prior to the day of the wedding for this very reason.
While the parties were only married for three years and had no children, this shows the extent to which the court is willing to uphold nuptial agreements, even where the outcome is vastly different than what would have been the case had there been no pre-nuptial agreement. They are an extremely valuable tool for wealth protection.
However, do not put all your eggs in one basket – for further information on how to protect wealth in the event of divorce, please get in touch.