Business and financial
Pre and post-nuptial agreements in Scotland
Charles Brown from Miller Samuel brings up the thorny issue of legal agreements around marriage
W
ith each passing year, more people in Scotland are consid- ering pre-nuptial and post-nuptial agree-
ments. However, even more people should consider them. For example, practice owners should
strongly consider entering such an agreement, particularly where their spouse is a shareholder or partner or is likely to become a shareholder or partner for tax or other purposes. Pre-nuptial agreements have been recognised in Scotland for a considerable time. Parties who have
previously been married and are marrying again regularly enter into pre-nuptial agreements without difficulty. However, many first-time spouses find the issue difficult to raise with their spouse to be. The fact is, the cost involved in obtaining a pre-nuptial agreement is relatively limited, certainly compared to its importance and effect. Such an agreement also allows parties to record almost anything, both in relation to past wealth and future outcomes. The agreement will be enforceable, provided it is fair and reasonable when it is entered into. It can protect assets, such as houses, land,
business interests and use of inheritances. Pre-nuptial agreements are not the preserve of the rich. It is regularly in the interests of parties with modest wealth to enter into such agreements. They can help to ensure, for example, that a parents’ estate on death is passed to their own children, rather than to the spouse and ultimately their children. A basic pre-nuptial agreement costs considerably less than a divorce and, if drafted properly, helps minimise dispute upon separation.
® For more information about pre-nuptial agreements and any other aspect of family law in Scotland, please contact Charles Brown, head of our Family Law Department, on crb@
millersamuel.co.uk on 0141 227 6046.
Scottish Dental magazine 79
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