Prenuptial agreements – or prenups – can give you peace of mind with some advanced wedding planning. They can be a positive thing if they’re done in a friendly and cooperative way and there are various reasons why it can be worth putting one in place.
What is a prenup and is it right for me?
A prenuptial agreement is a contract between a couple, which is written and signed before marriage. They can be as straightforward as you need them to be and they’re particularly important to consider where one or both parties has assets to protect.
They’ve become increasingly common in recent years, especially for those who already own property, who have a stake in a family business and want to protect that wealth from a future divorce or to protect it for children from a prior relationship.
It’s often the case that the key individuals of a business have a prenuptial agreement put in place to avoid any impact on the business if a divorce takes place in the future and our experts are happy to speak to individuals or businesses about how they can be used as a tool to protect company or partnership assets.
We always recommend discussing this subject with your partner at an early stage. In Scotland, correctly prepared and validly executed prenuptial agreements will usually be enforceable and legally binding and this includes ensuring that neither party feels pressure to agree to a prenuptial agreement at short notice.
We can also help with postnuptial agreements, which are signed during marriage, rather than before and cohabitation agreements for couples looking to move in with each other or to buy property together for the first time.
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