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The summer of love-why you should really have a prenuptial agreement?

Summer-Of-Love-

Over the past years, prenuptial agreements have become increasingly popular. Nowadays, couples are decisive and more hands-on when it comes to their finances. Prenuptial agreements allow couple to decide how they wish their assets to be divided should they ever decide to  separate or divorce. Although it might not seem a romantic gesture to suggest a prenuptial agreement to your partner, it is sensible to consider entering into such agreement.

It isn’t pleasant to think about separation or divorce before you get married or perhaps shortly after it, however, preparing for the possibility of it will give you a clear picture of what to expect if it does come to it. You may never have to use the terms of your prenuptial agreement, but it is good to know that you have certainty as well as clarity in the event  that you do separate or divorce

What is a Prenuptial Agreement?

A prenuptial agreement is a contract between both parties covering varying arrangements. These can include protection of finances and assets and how these should be divided in the event of either separation or divorce; pension arrangements; as well as protection of existing assets.

Each prenuptial agreement is different and can reflect parties’ individual situations. For example, a prenuptual agreemanet can include a provision regulating what should happen in unusual circumstances can be included in a prenuptial agreement. Just take this out.

Why should you have a Prenuptial Agreement?

A prenuptial agreement allows both parties to enter into a marriage with certainty and clarity, allowing them to protect their inherited or gifted assets they acquired prior to their relationship. Whatever these assets may be,  in the event of separation or divorce, a prenuptial agreement will ensure the assets of both parties  are protected.

Will my Prenuptial Agreement be enforceable?

there appears to be a wide belief that prenuptial agreements are not enforceable in Scotland, however this  is not coreect. The Courts will respect the wishes of two adults and tend not to interfere with their wishes, unless it is important to do so.  Generally, so long as both parties are of a sound mind and they have entered into the contract without being forced or unduly coerced, the contract should be deemed as valid.

The Courts might however disregard a prenuptial agreement if for example, the terms of the contract favour one party over the other, or if they can be regarded as being unfair or unreasonable, or if either one of the parties did not have access to legal advice at the time of entering into the agreement 

Depending on your individual needs and requirements, there are complex legal matters to think about prior to beginning the process of entering into a prenuptial agreement. Our team of experienced solicitors will ensure that you have a good understanding of what is involved in a prenuptial agreement, providing you with clear points to consider. We will guide you every step of the way.

To discuss your individual circumstances today, call us on 0141 375 1222 or contact us on here.

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