Dear Friends and Colleagues,
Firstly, Happy New Year! Today’s topic is: “Independent Legal Advice,” commonly referred to as “ILA.” Following are four scenarios which in my view illustrate the common assumptions and mis-assumptions of what ILA means and the huge importance that it has.
I’ll use the words “Independent Legal Advice” to mean that each party retains his/her own lawyer to advise them in the negotiation of a Separation Agreement or Marriage Contract (“Pre-nup”). I’ll use the shortened “ILA” to mean that a party wants “quick and cheap” advice from a lawyer and the lawyer’s signature on the “Certificate of Independent Legal Advice” attached to the Agreement. Is there a difference? The following 4 scenarios* I hope will provide the answer.
Is there a difference? The following 4 scenarios I hope will provide the answer.