Pre and Post-nuptial Agreements
Pre-nuptial and post-nuptial agreements are used to protect assets. They are fully enforceable in Scotland.
Being clear and upfront about financial issues is an important ingredient of a strong relationship and that’s where a pre-nuptial or post-nuptial agreement helps. Such agreements almost always include provisions for how property is to be divided upon divorce, and who has what rights to financial support during or after the breakdown of marriage.
These agreements might seem “unromantic” but if you fall into one or more of the following categories, a pre-nuptial or post-nuptial agreement will help protect your position:
- If you are wealthy or you have inherited or had significant assets gifted to you
- If you are involved in a family business, particularly a family business where assets and shareholdings may change or evolve over time
- If you are entering into another marriage, where there are significant assets from previous marriages
- If you are intending to cohabit through buying a house together and one party is putting in money through a deposit.
For family businesses, insisting on pre-nuptial agreements when family owners and minority shareholders are getting married offers certainty to the business as well as to the individual owners of the business.
Pre-nuptial agreements can be set aside by the court if they were neither fair nor reasonable at the time they were signed, which is why both of you should take independent legal advice before entering into an agreement. Having said that, a properly prepared agreement offers more protection than no agreement at all which is why we would recommend talking to us to ensure your assets are protected.