Prenuptial and postnuptial agreements (often referred to as “prenups” and “postnups”) are a practical step which can be taken to protect an individual's assets in the event of divorce.
Contrary to popular belief, prenuptial agreements are regarded in Scotland as being enforceable so long as they are fair and reasonable at the time they were entered into. Generally speaking, they are used to provide added protection to an individual getting married with pre-established assets. Prenuptial agreements can also determine how property such as a family home will be dealt with in the event of divorce or dissolution. Our family lawyers are happy to advise on all aspects of such agreements. We are increasingly instructed in prenuptial agreements involving more than one jurisdiction as more and more couples have assets or interests in or connections with more than one country. The situation in England is markedly different from that in Scotland and our dual-qualified expertise allows us to advise comprehensively so that you can make informed choices well in advance of the big day.
Occasionally a married couple decide to make specific financial arrangements to be applied in the event that they separate. Alternatively, parents passing assets to an adult child who is already married may wish to ensure that such assets are protected in the event of the separation or divorce. In such situations, a postnuptial agreement can be entered and we can give full advice in this field. Broadly speaking the same considerations apply as to prenuptial agreements, and they can provide a useful opportunity to review any existing agreements in the event that circumstances change over time.
If you are looking for advice on prenuptial and postnuptial agreements, contact a member of the team today.