Postnuptial agreements set out what will happen to certain assets in the event of a divorce
A postnuptial agreement is an arrangement between spouses or civil partners that regulates the couple’s assets and affairs in the event of a separation.
Postnuptial agreements work in the same way as prenuptial agreements, except they are entered into after the marriage.
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A postnuptial agreement is useful as it allows couples to protect their assets in the event of a separation. It ensures that plans are made for how your property will be divided between the two of you. If a postnuptial agreement is not made, there is nothing to protect these assets from becoming matrimonial property. Under Section 9 of the Family Law (Scotland) Act 1985, matrimonial property refers to assets that are acquired or accumulated during the marriage to be divided fairly.
Many couples find a postnuptial agreement gives them some peace of minde. However, whilst they can be useful for all couples, they are particularly important in some specific situations, for example:
On the whole, postnuptial agreements are Scotland are upheld. However, for the postnuptial to remain viable, you must ensure that:
If the postnuptial agreement does not meet these basic requirements, then you run the risk of it being overturned. As such, it’s vital that you seek expert legal advice before signing a postnup.
Neil Kilcoyne & Co. Solicitors have a wealth of experience in family law, including prenuptial agreements, separation agreements and divorces. We can support you through this process, and will work hard to secure you the best possible outcome.
If you would like to discuss your postnuptial agreement with experienced, award-winning lawyers, then get in touch with us today.
Neil Kilcoyne & Co. Solicitors offers specialist and expert legal advice to people who are going through divorce and separation, marriage and relationship breakdowns. For a free telephone consultation, call us today.