A prenuptial agreement is a written contract between two people in anticipation of marriage. It normally lists all the properties each person owns and defines the rights and obligations of both parties. It specifies how to manage their finances during the course of the marriage. This will also define what each person’s property rights will be in the event of the termination of marriage, either by death, divorce, or cancellation by the court.
Making a prenuptial agreement may sound odd. Most couples are not open to discussing money matters, property ownership, or even the possibility of separation. However, these agreements are fairly common and essential to other people, especially if either or both parties have real assets, stocks, inheritances, or collectibles that they want to keep as separate property. Some people prefer to clarify financial obligations to a parent or children from a previous marriage.
A prenuptial agreement keeps control and protects ownership of assets, finances, and properties belonging to a family business. Without a premarital agreement, a court could award some of these ownership rights to your partner. This may lead to a potentially difficult situation if the marriage fails.
A prenuptial agreement is often used to designate responsibility and protect the interests of children from an earlier marriage or children from an upcoming marriage. With this agreement, you can make sure that your children receive the assets you want them to have in the event of separation.
Heirloom could be anything valuable passed down from generations to its family members. A prenuptial agreement can make sure that you can keep family heirlooms out of the marital estate. This is important when there are valuables that you intend to give your children from an earlier marriage or from other relatives.
The Commercial and Civil Code of Thailand governs prenuptial agreements in Thailand. Therefore, before a foreigner plans a prenuptial agreement with a Thai national partner, it is important that both parties seek legal advice from registered Thai lawyers with full knowledge of the laws, both in the foreigner’s home country and in Thailand. Contact us now!
We provide prenuptial agreement services. Book an appointment now if you need help creating a prenuptial agreement. Talk to our lawyer if you have uncertainties about whether it would be suitable for you. Our lawyers with divorce-litigation expertise can also advise you on how a prenuptial agreement will be treated in divorce.
It is significant that you do not base your decision on the wrong information. We have listed some of the common misconceptions about prenuptial agreements that could address some of your uncertainties.