Why meet with a family law lawyer before marriage?
– Because every situation is unique. Before an impending wedding, it is important that spouses go through the family law effects of entering into a marriage together with a family law lawyer, says Emma Forsberg.
What should the person who goes from a cohabiting relationship to a marriage think about?
– An important difference from cohabitation is that spouses share equally in all property that is not separate property, the so-called matrimonial property. Separate property, on the other hand, a spouse does not have to share in a division of property. Individual property can arise when a spouse has received an inheritance or gift with the condition that the inheritance/gift must be the recipient’s individual property. The only way for spouses themselves to agree on separate property is to draw up a prenuptial agreement, which is common among, for example, entrepreneurs with complex private finances. This can be established both before the marriage and during the marriage.
Any specific advice for entrepreneurs?
– Many entrepreneurs have entered into shareholder agreements which usually include a clause to keep the shares as private property. In such cases, the shareholder agreement must be supplemented with a prenuptial agreement as a starting point.
And what should a person with a fortune in stocks think about?
– In prenuptial agreements where shares become individual property, many fail to regulate the yield on the shares (usually dividends). If this is not done, the shares will constitute individual property, while the dividends on the shares will become matrimonial property. Since the dividends often account for a significant part of the return, it is important not to miss this aspect.
What is the most common misconception before marriage?
– Spouses, through marriage, jointly own all property. Spouses can indeed jointly own property, but it is important to remember that during the marriage each spouse owns their own assets and is responsible for their own debts. On the other hand, there is a so-called matrimonial right claim, which means that spouses have the right to receive half each of the total matrimonial rights net in the event of a property division. A division of property is made according to the main rule both in case of divorce and death.
What should wealthy individuals think about when it comes to inheritance?
– Unlike cohabitants, spouses inherit from each other provided that there are no children or that there are only joint children. Something that often comes as a surprise is that spouses also inherit the individual property. If a deceased spouse only has illegitimate children, however, there is no inheritance right for the survivor. If you wish to dispose of your estate in a different way, a will needs to be drawn up, says Emma Forsberg.
Customers at Carnegie Private Banking are offered qualified advice in family law matters and help with, among other things, drawing up prenuptial agreements and wills. Contact your advisor for more information on how we can help you.
