Prenuptial agreements (also called ante-nuptial agreements) are becoming increasingly popular in Scotland, particularly for people who have built up assets prior to the marriage, or have been married previously.
Many people wish their assets to be protected for their children from any previous marriage.
What are the benefits of a prenuptial agreement?
The main advantages of entering into a prenuptial agreement are peace of mind and clarity as to what would happen in the worst-case scenario of divorce. For an individual who has considerable assets it is sensible to at least consider a prenuptial agreement.
What goes into a prenuptial agreement?
The content of a prenuptial agreement can vary widely but in the main deals with provisions for the division of property after the breakdown of marriage or civil partnership.
Whatever your intentions, circumstances or concerns, our experienced family law team can help you decide whether you need an agreement, and then negotiate its terms. In drafting the agreement, the risk of any challenges to it in future is minimised.
What is a postnuptial agreement?
A postnuptial agreement is similar to a prenuptial agreement, but made after a wedding or civil partnership has taken place. Like a prenup, it sets out what should happen to your assets if you separate or divorce.
When is a good time to do a postnup?
Firstly, if you intended to make a prenup, for example, to ringfence assets or children from a previous relationship and didn’t get round to it. Secondly, if your financial situation changes in some way – perhaps because of a windfall, business restructuring or career changes.
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