Postnuptial Agreements for Business Owners

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Post-Nuptial Agreement Lawyers in Glasgow, Scotland

If you need advice about divorce and separation or planning for the future with a prenuptial or postnuptial agreement Miller Samuel Hill Brown can help.

Our lawyers are experts in handling all kinds of multi-faceted family situations including those involving business owners, high net worth individuals and the self-employed. We understand how much your business means to you, and as a result, will listen to you to understand what you really need from your postnuptial agreement. We always advise in the best interests of our clients, providing practical solutions to novel and challenging problems.

When you own a business, it can be a significant consideration when it comes to marriage or divorce – it can also cause things to get very messy should everything not go according to plan. That is why if you, your partner, or both of you own a business either together or independently, a postnuptial agreement could give both of you the peace of mind you need. No one plans to get divorced, but it is always advisable to protect your legal position, earnings and the future of your business. We will guide you through the process of coming to an agreement about how your assets should be distributed in the event of separation or divorce. We hope that you will never need it – but it is always advisable to be prepared and fully understand your position.

Every couple is different, so to discuss your specific circumstances with an expert member of our team, call us now on 0141 221 1919 or complete our online enquiry form, and we will get back to you right away.

Specialist Postnuptial Agreements for business Owners Lawyers Glasgow

Postnuptial agreements are agreements that are made after you are married – in contrast to prenuptial agreements. A postnuptial agreement can be very useful in helping you protect your assets in the event of separation or divorce.

Entering into a postnuptial agreement when you and your partner are on good terms can avoid difficult negotiations or even a court battle over your business, matrimonial property and assets at a later date, so it is wise to enter into an agreement before your relationship has broken down.

A postnuptial agreement can give you and your partner an element of control over how your assets will be divided in the event of divorce or separation. Under the law of Scotland, the matrimonial property of a couple should be divided fairly - unless there are ‘special circumstances’ that allow the property to be shared otherwise. Special circumstances can include a postnuptial agreement, where the couple have negotiated and come to their own assessment and understanding of how their assets should be divided.

Many couples choose to enter into a postnuptial agreement because it brings them peace of mind and gives them the security that they will be financially stable should their relationship fail. However, there are many situations where it is particularly advisable to have a postnuptial agreement in place. These include:

  • Where one party may receive a large inheritance or other source of family wealth they wish to protect and to remain within their family. This is particularly relevant to business owners where they own or run a family business, or where they wish for their business to remain in the family.
  • Where one party to the marriage is of substantial wealth and the other is not, or where one party acquires substantial wealth in the course of the marriage. Again, this is particularly relevant to business owners who owned a successful business before they were married, or where their business takes off in the course of the marriage.
  • Where one of the parties has previously been married, and/or has children that are from a relationship prior to their current marriage. This can help guarantee, that should the couple separate, the business or business revenue of one party does not go to the other party’s children from a previous marriage

 

Business Owners and Separation or Divorce

Where one or both parties are business owners, it can be difficult to track their assets and income. This can make it challenging to divide matrimonial assets fairly, or even in accordance with the law. Where there is no prenuptial or postnuptial agreement in place and the relationship comes to an end, owning a business can make it easier for one party to hide assets or misrepresent their actual income. These actions are generally not in accordance with the law and can turn a divorce into a lengthy and costly court battle, which is not in the best interests of either party.

Business owners or their partners may also be in the situation where one party supported the other whilst they built their business, and the question may arise as to whether they have the right to share in the success, value and assets of that business.

Entering into a postnuptial agreement will help resolve some of these issues, along with the many others relating to businesses owners and divorce.

Building a business can lead to substantial wealth but also substantial debt and loss. In order to ensure your security and financial protection, you need a postnuptial agreement that covers every eventuality. Our team of specialist family lawyers with experience in drafting postnuptial agreements for a diverse range of business owner clients can ensure that your business and your personal financial position should you become divorced. Contact us today.

Contact our Postnuptial Agreements for Business Owners Solicitors Glasgow

No couple likes to consider the possibility of a separation. However, while we hope that you will never need to enforce it, making a postnuptial agreement today can ensure that you avoid lengthy and bitter disputes in the future.

The solicitors at Miller Samuel Hill Brown have experience in this field and are ready to help you draft your postnuptial agreement. For more information, contact us on 0141 221 1919 or fill in our online contact form. 

 

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