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ukfamilysolicitor
ukfamilysolicitor, Family Solicitor
Category: Family Law
Satisfied Customers: 1093
Experience:  Divorce, Finances, Children, Domestic Violence, Care Proceedings
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I wish to gift to my children my holdings in a business

Resolved Question:

I wish to gift to my children my holdings in a business partnership. Condition has to be that their spouses have no claim on this specific asset. Any suggestion as to a contract between my children and their respective spouses ?
Submitted: 1 year ago.
Category: Family Law
Expert:  ukfamilysolicitor replied 1 year ago.
Hello Welcome to Just Answer I am a Solicitor and will assist you. Please may I ask - are your children all legally married? Kind Regards Caroline
Customer: replied 1 year ago.
Hi Caroline ,
no only my son , my two daughters live with partnersKRFritz
Expert:  ukfamilysolicitor replied 1 year ago.
Hello Fritz For your son - he needs a post nuptial agreement. For your daughters - if they were to marry then pre nuptial agreements need to be drawn up if they later decide to marry. If they remain unmarried then any partners will have no claim. You have to be aware that such agreements are not technically legally binding but later family court judges are following such agreements if the following process is being adhered too and the Judge considers its fair: 1) full disclosure is given to the spouse as to the asset2) each spouse has their own independent legal advice as to the meaning of the agreement they re signing. Whilst this isn't fool proof - it will go a long was -- and it is the best way to currently seek to protect such inherited assets. An agreement of this type would cost around £300 to prepare and your looking around £150 to pay for the other spouses independent legal advice. Kind Regards ***** ***** kindly remember to rate positively so that we receive credit for helping you today
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Customer: replied 1 year ago.
Hi Caroline ,
firstly thank you for the clear analysis and secondly can you draw up such a post nuptial agreement and at what cost ?KR
Fritz
Expert:  ukfamilysolicitor replied 1 year ago.
Hello Fritz My apologies for my delay in responding to you as my system crashed! I would suggest that such an agreement be best tailored by a solicitor local to you - so that the full disclosure requirement can be included. Please do not hesitate to ask if I can assist you further. Kind regards Caroline