Protecting Your Assets

In the not so distant past, prenuptial agreements were something only used by or referred to within the context of the rich and famous.  The stark reality is that they are being increasingly used by couples who are about to get married or those looking to enter into a civil partnership.

What does a prenuptial agreement do? 

Prenuptial agreements are put in place in order that people can regulate how their assets are treated and divided up in the event of them getting divorced or their civil partnership being dissolved.

Examples can include:

• When one person has invested significantly more when purchasing a property that the couple will be living in.
• When one person either earns or already has significantly more money than the other person.
• To determine what happens to a person’s assets in the event of their death, minimising the possibility of any legal challenges after the person has died.

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.

We appreciate that when you are in a long-term relationship, raising the issue of a prenuptial agreement is likely to feel awkward; but it can be an awkward discussion worth having.  If  you have been married before and/ or  have children from a previous relationship  and you have significantly more assets than your partner ., it is only sensible that you should want to protect yourself in case the relationship does break down in the future.

Why do you need legal advice with your prenuptial agreements?

Even if you are able to agree the terms of a prenuptial agreement with your partner, it is important that what is agreed is recorded in a formal written Minute of Agreement.  It is very difficult to prove that a verbal agreement is binding in the event that there is a dispute about the terms of any such agreement in the future.

To make an appointment with our lawyers based in Alloa and Falkirk, call us today on 01324 622 888 or complete our online enquiry form and let us see how we can help you.