The number of people signing prenuptial agreements has soared in recent years. No longer are prenuptial agreements envisaged only for the rich and famous as increasing numbers of people enter into prenuptial agreements to safeguard their assets in the event of a separation from their partner.
Our Solicitors appreciate that prenuptial agreements can be particularly sensitive and they are well-versed in handling them with discretion and sensitivity. For those clients that are unsure of what exactly a prenuptial agreement is, or how exactly it can be utilised to protect their wealth, our Solicitors can help. We can clear up any common misconceptions and ambiguities surrounding prenuptial agreements.
What is a prenuptial agreement?
A prenuptial agreement, or more commonly referred to as a ‘prenup’, is an agreement entered into between parties prior to a marriage. A prenup outlines what rights each party has to the other’s assets in the event of a separation and can deal with a whole host of issues which may arise over the course of the marriage. Frequently, prenups regulate the following issues:
Prenups can be particularly useful for those who wish to safeguard their business interests which they acquired pre-marriage, or those with farming businesses, to ensure they remain in their original form and can be passed down through further generations.
There are common misconceptions surrounding the enforceability of prenups in Scotland. Generally speaking, prenups will be enforceable in Scotland as long as certain requirements have been met during the negotiation and drafting stages. To ensure your prenup is fully enforceable, it is imperative that people obtain expert advice. Our Solicitors are amongst the top in the field in this area and they also have experience dealing with prenups with an international dimension.
Postnuptial agreements are frequently entered into if a prenup has been entered into last minute, or if an issue has arisen in the marriage. Such issues could include one person accumulating a lot of personal debt. In these circumstances, a postnuptial agreement can be utilised to safeguard matrimonial assets, including the matrimonial home.