It has been confirmed this morning that Formula 1 boss Bernie Ecclestone and his wife Slavica are to divorce.

The Sunday Times Rich List for 2008 reported that Mr Ecclestone’s personal fortune was estimated to be in excess of £2 billion. Following a lengthy marriage of approximately 24 years, this separation has all the trappings of another headline-grabbing divorce settlement should Mrs Ecclestone decide to pursue a significant settlement from her husband. This ties neatly into the issue over which jurisdiction the divorce will be heard in. If the divorce proceedings are issued in England, Mrs Ecclestone could conceivably recover up to half of her husband’s sizeable fortune which is reportedly locked up in a series of overseas trusts in her name for tax purposes.

Even if a settlement can be agreed without recourse to the courts, a spotlight will inevitably be thrust again upon the benefit to couples of having a pre-nuptial agreement. Although not yet binding these agreements are increasingly persuasive to the courts and high-net worth individuals around the world will have been made acutely aware by this case of the advantage in having a safeguard to protect their financial position. In the current economic climate, effective wealth management has never been more relevant.