The Prenuptial Agreement in Thailand is a contract between two people agreeing that in case of a divorce certain properties will remain as sole property of one individual or whatsoever each would wish. The prenuptial agreement is not compulsory, but it establishes security when couples decide to get married.
Prenuptial Agreement in Thailand
With a prenuptial agreement in place, the costs of a divorce would be much lesser when the couple has difficulty in agreeing on which assets each of them are entitled to. In any case comes to worst when a certain property of one spouse is black listed with a credit company; the other party would be assured that his or her assets would not be affected in terms of credit ranking. However, laws vary from different countries that is why it is highly recommended to consult a family lawyer in Thailand regarding the prenuptial agreement before entering marriage. Always consult with a law firm in Thailand.
Prenuptial agreements are mostly being used to secure law and order for couples marrying in Thailand. Property ownership in Thailand falls under two categories; Separate property ownership by husband and wife, which would include personal items, tools, gifts, the engagement ring and other inheritance acquired after the marriage and etc.; the second category would be that of communal property, which comprises of those properties jointly owned by the husband and the wife. This covers the properties acquired during the marriage.
This is where the prenuptial agreement comes into importance, in case there are doubts as to which category a certain property should fall into, it will automatically become communal property. See also the Thai law firm and child custody in Thailand as well.
What to consider with a prenup
Getting married might be the best decision an individual can ever make, yet to this day where there is an increasing number of divorce cases, which eventually results to financial battles, it is highly recommended to secure your assets before making the big decision of getting married – and that is by drafting your Thai prenuptial agreement in Thailand. The prenuptial agreement is a contract created between you and your future spouse. It summarizes your individual assets and liabilities before getting married, including the provisions of your property rights after the marriage.
Although some may feel skeptical regarding signing a contract enumerating all your assets and liabilities. Having a Prenuptial Agreement in Thailand prior to getting married also have several advantages aside from protecting your personal properties. It helps secure your business assets and family properties.
In case of a divorce, a prenuptial agreement makes sure that you are protected. This from debts incurred by your spouse and entrust financial responsibility to your children. It may also include provisions stating custody rights. Having a Prenuptial Agreement in Thailand will lessen the risks of having legal concerns and reduces litigation costs. The contract will be used as an aid to the divorce process. This to determine the equal and fair distribution of all properties between both parties. Always do this together with your marriage registration in Thailand.