Louis Mangione

Innovations in Education, Inc.

Prenuptial Agreement In Scotland

No Comments »

People put in place marital agreements in order to have some regulation of the distribution of their assets in the event of divorce or the breakdown of their life partnership. The provisions of a preliminary contract should be up-to-date for both parties, subject to periodic review and after full disclosure of all assets held by both parties. We therefore strongly recommend that both parties seek independent legal advice to ensure fairness and adequacy of the agreement. During discussions and negotiations, our team works with your partner`s legal representatives and actively works to develop an agreement that will serve both parties while protecting your long-term interests. Pre-marital agreements have inherited a bad reputation of the media and high-level cases, which are often a damaging image of the purpose and value that these agreements have for many couples. However, preliminary agreements can be very useful and play a central role in a court`s decision on asset allocation. This is why pre-contract agreements can pacify the divorce or separation process, making it a less fragile experience for all concerned. Each agreement is tailored to the particular circumstances of a couple, but usually contains details of each party`s assets and how to deal with them in the event of a divorce. If you feel you need a marriage deal, it is helpful to mention it early in your relationship and make sure it is signed well before the wedding.

It is recommended that both parties obtain independent legal advice before an agreement is signed. In Scotland, we have specific legislation that provides that two parties can enter into a legally binding agreement on their financial situation in the event of a divorce, unless it is deemed unfair or inappropriate at the time of their initiation. If you are considering a marriage or civil partnership, it is unlikely to think about what can happen in the event of a separation. Often overlooked, a prenuptial or post-nuptial agreement can be a reasonable way to protect yourself, your future spouse and your family in the event of unforeseen circumstances. It should be seen in the same way as the creation of a will. Such agreements ensure that your wishes are protected and that assets are distributed in accordance with the terms of the agreement. These agreements are very flexible in terms of the extent of assets that can be closed and protected. Typical assets can be real estate, savings, investments, business interests or motor vehicles.

The importance of wealth is not limited and can be as vast as the parties feel good. Such agreements are not just for the super-rich. They may be particularly beneficial for couples who marry later in life or marry for the second time, or to protect inherited or gifted assets, z.B. if a spouse`s parents have given substantial bail for the purchase of the marital home.

Comments are closed.