Benefits of a Prenuptial
Do you understand the benefits of a prenuptial agreement? A Thai prenuptial agreement is a contract which has been created personally by a couple before getting married which identifies all properties, be it personal or marital assets of both parties. To some, this may be seen as an insult, or may cause pressure on having such a contract signed before marriage, but, seeing on the other side, it gives you security to your personal property. Anyhow, properties or assets acquired during the marriage will just be an additional arrangement if declared as joint or shared when marriage fails and ends in divorce.
Benefits of a Prenuptial
This agreement does not only limit both your personal properties, but also gives security to the properties of your family and business assets. The discussion of distribution on properties may also be less hassle in the event of a divorce, compared to the standard proceedings without this agreement. This will serve as a specified list of inventory of all of your properties and assets prior to marriage and also at the time of your marriage.
Under Thai law, there are two categories on properties, personal and communal property. The personal property becomes accountable should there be any debts acquired by the spouses jointly. In case wherein only one party has acquired or made a debt, having a prenuptial agreement will save you from this mess and prevents the creditor to include you from collection and claiming of spouse’s party when left unpaid and unsettled.
The result of having a Thai prenuptial agreement has prepared benefits for long term. This is an arranged planning of your estate, keeping and giving importance to what you solely own and acknowledging the separated and shared properties.
As drafting of such agreement be considered as a personal and private arrangement by the couple, in registering the said agreement at the time of Thai marriage registration at the district office, will declare this contract as a valid document. Drafting this agreement and failure to register it on the day of the marriage will forfeit any content enclosed, even signed by parties or witnesses.
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