The old adage ‘once bitten, twice shy’ clearly does not apply to former Beatle Sir Paul McCartney. He has announced that when he marries Nancy Shevell at Marylebone Register Office, there will be no pre-nuptial agreement in place.
No Pre-Nup for Sir Paul
Published Monday 19th September 2011, 09:49 AM
Mr McCartney’s acrimonious 2008 divorce from Heather Mills cost him more than £24 million.
Under a pre-nuptial agreement, an intending spouse can protect their assets in these circumstances. Although ‘pre-nups’ are not strictly legally enforceable, the UK courts will give effect to them if they have been entered into willingly by both sides in the full knowledge of the relevant circumstances, and with the benefit of appropriate professional advice.
Mr McCartney’s already considerable fortune was boosted recently by a decision of the Council of the European Union to extend the copyright period of performers from 50 years from the date of the recording to 70. Many of the ‘Fab 4s’ biggest hits were due to become public property in the next few years.