4 Rules for drafting a Prenuptial
These are the 4 rules for drafting a prenuptial. At the present time, Thailand prenuptial agreements have become one’s standard when entering into a marriage. The Thai Prenup being known to all, is a mutual arrangement of the marrying parties in the case of a divorce which would allow them to decide and agree in terms of their wealth and all other assets. Most prenuptial agreements are taken into consideration by those who have failed marriages in the past.
4 Rules for drafting a Prenuptial
Thailand is a country which is way different from other western countries. The culture, tradition and environment differs, the same with marital relationships. The Thailand prenuptial agreement has become an open topic especially among locals marrying foreigners because these marriages come with their own issues with regards to property jurisdiction, especially if both parties or one or the other has properties or assets before the marriage took place and is overseas. Nowadays, having a prenuptial agreement would lessen stress on both parties and would give assurance to both parties in the event of a divorce, as everything has been agreed and stated prior to entering marriage.
The prenuptial agreement in Thailand is not compulsory, but having such an agreement gives financial security when the couple enters marriage. Laws differ between countries and it is always best to seek legal opinion regarding your prenuptial agreement.
Under Thai law, the following are required to make sure a Prenuptial Agreement is legal.
- The contract should be drafted and written or made in writing
- Each should have separate lawyers or legal counsel to represent them
- The prenuptial agreement should be signed by both parties in the presence of two witnesses before the registration of their marriage
- Also the prenuptial agreement should be registered on the day that marriage will be registered
Property ownership in Thailand is classified into two:
- Separate property owned by the husband or the wife, which includes all personal assets acquired before marriage are solely and automatically yours
- Communal property which is jointly owned. This would include all properties acquired at the time of marriage and during the marriage.
These two will be the basis on how you would like the Thai prenuptial agreement be drafted and agreed upon. It is necessary to identify which category it falls into. Note that, this Thailand prenuptial agreement has opened the eyes of many to find security when time comes that marriage would end up to divorce. This agreement gives each individual peace of mind as most divorces end not on good terms. These are the basic 4 rules for drafting a prenuptial agreement, so take proper legal advice before you start as Thai law can be complex.
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