If you need advice in relation to divorce, separation or planning for the future with a prenuptial or postnuptial agreement Miller Samuel Hill Brown can help. We have years of experience in handling all kinds of complex family situations as well as those involving high net worth individuals, where discretion may be vital. We always advise in the best interests of our clients, providing practical solutions to novel and challenging problems.
When it comes to self-employment and divorce, things can become messy very quickly. That is why where you, your partner or both of you are self-employed or run your own business, a post-nuptial agreement could give both of you the peace of mind you need. Whilst no one plans to get divorced, it is always advisable to protect your legal position and future earnings. We will guide you through the process of coming to an agreement about how your assets should be distributed in the event of separation of divorce. Hopefully, you will never need it – but it is always advisable to be prepared.
Postnuptial agreements are drafted after you are married – in contrast to prenuptial agreements. A postnuptial agreement can be exceptionally useful in protecting your assets and allowing couples to ensure that in the event of separation or divorce, they are both on the same page as to how property is to be divided. Entering into a postnuptial agreement when you have a good relationship with your partner can avoid bitter negotiations or even a court battle over property and assets at a later date, and it is wise to do so before your relationship has broken down.
A postnuptial agreement also gives you an element of control over how your property will be divided, as opposed to leaving the distribution at the discretion of the court when you divorce. Generally, under the law, the matrimonial property of a couple should be divided fairly unless there are special circumstances that require the property to be shared otherwise. Such ‘special circumstances' may include the existence of a postnuptial agreement, as it can be shown that the couple has come to their own agreement. The law in Scotland acknowledges that all families are different, and as a result allows two parties to a marriage to agree what is best for them and make suitable arrangements using a postnuptial agreement.
Whilst many couples choose to enter into a postnuptial agreement simply because it brings peace of mind, there are several situations where it is particularly advisable to have a postnuptial agreement in place. This includes:
The situation can be even more complex where both parties are, or have become, self-employed but our specialist lawyers can assist you regardless of your circumstances. Get in touch with us today to find out how we can help.
Where one or both parties are self-employed, it can be difficult to assess or track income. This makes it more difficult to divide matrimonial assets fairly. If there is no agreement in place and the relationship turns sour, self-employment can make it easier for one party to disguise assets or misrepresent their income. Such behaviour can turn divorce into a very lengthy and expensive affair, which is not in the best interests of either party.
There may also be the challenging situation where one party is supporting the other while they build a business being self-employed, and the question may arise as to whether they have the right to share in the future success of that business should the parties separate in the future.
A postnuptial agreement can help settle some of these issues as well as the many others which arise in the context of self-employment and divorce. Self-employment and building a business can lead to both substantial wealth and substantial debt and loss. As a result, you need a postnuptial agreement that covers every eventuality. Only a team of specialist family lawyers with experience in drafting postnuptial agreements for a diverse range of self-employed clients can ensure that your assets and future financial stability is protected should you become divorced.
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.