Prenuptial Agreements

Prenuptial agreements video transcript

If you're planning a wedding thinking about a prenuptial agreement may not be a top priority for you and your future spouse. However whilst you may not be a celebrity with millions to protect, a prenup might still be a sensible option for you and we find that they're becoming used more often.

A prenup is essentially a contract entered into between a couple who intend to marry. It sets out your intentions and it clarifies how certain assets will be dealt with if you split up at a later date. It provides you with certainty going forward as you both know how assets will be dealt with if you part ways, and, it can save you money in any future legal fees if you do separate or divorce.  One way to think of a prenup is to consider it a form of insurance. Sensible to have but hopefully never needed.

Couples have prenups for a variety of reasons. For instance you may have built up assets in your own right prior to meeting your future spouse. This could be property, savings or a business. Or you could be paying for the deposit for your new home or your family may be funding that and you may want to make it clear that in the event that you separate or divorce, that money will be returned to you. If you're marrying for a second time and you have children from a previous relationship then a prenup can help protect your assets for the benefit of your children.

Prenups have been legally recognised in Scotland for centuries and provided that they're properly entered in to the Scottish courts should uphold them. However, for a prenup to be enforceable certain boxes must be ticked. It must be fair and reasonable at the time that it's entered into. Both parties should be given independent legal advice before signing. Neither party should be put under any pressure to sign and the prenup should be completed and signed as far in advance of the wedding as possible.

If you think you might benefit from a prenuptial agreement then get in touch for an initial no obligation chat to discuss your own circumstances and the options available to you. You can get in touch today using the telephone number or the enquiry form which are available on our website

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