Prenuptial agreements are no longer solely for the rich and famous. They can be used by couples about to get married or those looking to enter into a civil partnership.
What’s the purpose of a prenuptial agreement?
People put prenuptial agreements in place so they have some regulation over how their assets are divided up in the event of them getting divorced or their civil partnership being dissolved.
Examples of this include:
- When one person has invested significantly more in purchasing a property the property the couple will be living in
- When one of the people involved earns significantly more money than the other
- When one person is getting married for the second time and has accrued assets as a result of their previous marriage
A prenuptial agreement can also be used to establish what happens to a person’s assets in the event of their death. This can help to mitigate any legal challenges after the person has passed away.
Discussing a prenuptial agreement with your partner
Unfortunately, every year in Scotland, thousands of people either get divorced or have their civil partnership agreement dissolved. In 2018/19, official figures showed that 7,379 divorces were granted in Scotland.
When you’re at the stage of being ready to commit yourself to someone, raising the issue of a prenuptial agreement can feel difficult and awkward. While nobody enters into a relationship with the intent of splitting up, a prenuptial agreement can give peace of mind to both parties and can save a lot of heartache further down the line.
If you have significantly more assets than your partner for example and have worked hard to accrue these, why shouldn’t you protect yourself in case the relationship does break down in the future?
Read: Get the Right Advice When Considering Pre-Nups
Why do you need legal help with your prenuptial agreement?
Expertly prepared prenuptial agreements are legally binding and enforceable in Scotland. That’s why you need the help of a family lawyer in this area. Taking a chance by preparing your own agreement may seem like a good way to save money on legal fees, but your agreement may not be enforceable when the time comes.
Everyone’s circumstances are different, so if you want tailored advice on preparing your prenup agreement, contact our prenuptial solicitor expert Fiona now using the details below.
