The Marriage and Civil Partnership (Scotland) Act 2014 comes into force on 16 December 2014. Same-sex couples will then be in a position to marry one another and in fact, the first day that such a marriage could take place is 31 December 2014. Whilst many on that day will be celebrating Hogmanay and looking forward to the New Year, some may be looking forward to a future together as a married couple.
For those same-sex couples considering marriage when the new legislation comes into play, now is an ideal time to consider having a pre-nuptial agreement prepared. Pre-nuptial agreements are far more common these days and are particularly important for those with pre-marital wealth, and gifted or inherited assets.
While perhaps not the most romantic of matters to consider just before marriage, there are many pragmatic benefits to having a pre-nuptial agreement. They provide peace of mind and clarity as to what would happen in the worst case scenario of divorce. They are a cost effective way of protecting your assets and avoiding potentially costly disputes in the future.
Pre-nuptial agreements can be tailored to suit individual couple’s needs. Although the enforceability of pre-nuptial agreements has not yet been tested in Scotland, the general consensus is that they will be enforceable provided they have been properly prepared and executed.
The Family law team at Lindsays is ideally placed to offer you advice on how best to protect your position.
