Scottish Law Prenuptial Agreement

The circumstances are different for everyone, so if you want personalized advice when preparing your prenup contract, now talk to our pre-band lawyer Fiona using the following details. Divorce can lead to terrible insecurity and conflict. A marital agreement can help reduce some of the uncertainty it can create. Marital agreements are allowed by Scottish law. There is a misunderstanding that a marital agreement is reserved for the rich, but in fact, the most common way to protect premarital wealth for anyone who has acquired pre-existing property against the marriage they want to protect is a home, savings, shares or commercial interests. 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. 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. As today almost 50% of marriages fail, people must be realistic and plan ahead, just in case. Reaching an agreement on what might happen in the unfortunate event that the marriage ends means that there will be no hidden agendas and surprises if things go wrong. Such agreements may seem unromantic and clients are often worried about discussing such a sensitive topic with their partner. It`s hard to imagine a dinner meeting with your fiancé, starting with „Honey, I want a pre-nup!“ The main difference between these two types of agreements is the date of establishment.

A marital agreement is prepared before a couple is bound by marriage, and a post-uptial agreement is prepared after the marriage breakdown. Both have the same intention to protect the assets of the parties involved. In short, a pre-nup is a formal, written agreement between a couple signed before their marriage and which provides for the division of the property and income of that couple in the event of a divorce. These rights do not imply the right to transfer or transfer inherited property. It is therefore wise for the parties to consider a cohabitation agreement in the same way that the parties would have a separation agreement to eliminate their assets, including inherited property. Marika Franceschi examines the most important points that couples should respect when entering into a marriage agreement. After extensive discussion and review, the company believes that there is generally a clear conflict and that the same lawyer should not advise both parties on the preparation of a cohabitation agreement. Society recognizes that the consequences of this view may be additional costs for couples living together, but the priority must be the independent protection of their interests. However, there will be many situations where a couple will be able to buy a property with a small or no down payment, in which case the need for a formal written agreement on housing will be greatly reduced. Separated spouses/civilian partners (to avoid doubts, „spouses“ refer to „civilian partners“) 1.

Act in preparation for the separation agreement If the parties have signed a free income agreement, lawyers or legal advisers acting for one of the spouses may act on the sale, but must be accountable to the parties in accordance with the signed agreement. You cannot accept any unilateral instruction from either party to change that. In this case, there is a clear conflict of interest between the parties. When a lawyer or legal counsel does not carry out its sales activities, they may accept instructions from their own client to exercise due diligence on the dependence on an act or in the execution of an agreement.