What is a Prenuptial Agreement?
Difficult as it may be to talk about money before marriage in Thailand, doing so can save heartache and hassles in the long run. A prenuptial agreement in thailand can minimize the financial and emotional toll of a divorce. Couples without one will have their assets distributed for them by the state if the marriage in Thailand ends and they disagree about who should get what.
A prenuptial agreement in thailand, ante-nuptial agreement in Thailand, or premarital agreement in Thailand, commonly abbreviated to prenup or prenupt, is a contract entered into prior to marriage in Thailand, civil union or any other agreement prior to the main agreement by the people intending to marry in Thailand or contract with each other. The content of Thailand prenuptial agreement can vary widely, but commonly includes provisions for division of property and spousal support in the event of divorce or break up of marriage in Thailand. They may also include terms for the forfeiture of assets as a result of divorce in Thailand on the grounds of adultery, further conditions of guardianship may be included as well.
England and Wales do not enforce prenuptial agreements, but agreements may be upheld at the court's discretion. These countries also do not have a provision for marital regimes.
In most jurisdictions, five elements are required for a valid Thailand prenuptial agreement:
- Thailand Prenuptial Agreement must be in writing (oral prenups are always prohibited);
- Thailand Prenuptial Agreement must be executed voluntarily;
- Full and/or fair disclosure at the time of execution;
- Thailand Prenuptial Agreement cannot be unconscionable
- Thailand Prenuptial Agreement must be executed by both parties (not their attorneys) "in the manner required for a deed to be recorded", known as an acknowledgment, before a notary public.
Thailand Prenuptial Agreement. What you need to know!
Thailand Prenuptial Agreement are authorized by Thai law and must conform to the Civil & Commercial Code of Thailand. The prenuptial agreement in Thailand must be signed prior to the marriage in Thailand with the person who is at that time still your Thai fiancee and not yet your legal spouse. Prenuptial agreement in thailand must be registered simultaneously with the marriage in the marriage register at the local office where the marriage in Thailand takes place. After marriage in thailand the Thailand prenuptial agreement cannot be altered except by authorization of the Court.
Benefits of Thailand Prenuptial Agreement.
- To protect your property in case of a possible divorce in thailand and preventing disputes.
Often, people will enter into a marital relationship with substantial individual assets - particularly those who marry in thailand or re-marry later in life. In these cases, a prenuptial agreement can ensure that prior private property will stay in the hands of its original owner. A resolution like this can eliminate possible sticking points later on in the marriage - or divorce.
- To manage property between husband and wife.
The basic rule under Thai law is that all properties acquired during the course of the marriage will become jointly owned matrimonial property regardless how the title is held. Control over these properties lies with both spouses jointly, unless the husband and wife have made a prenuptial agreement in Thailand prior to their marriage in thailand. The prenuptial agreement in thailand may grant management of certain jointly owned property.
- Efficiency of Time and Money
Perhaps the greatest and most quantifiable benefit of a prenuptial agreement in Thailand is in the reduction of time and money spent in the case of a divorce. While most people would rather not consider the possibility of divorce, failing to plan for it can be detrimental to both partners. Without Thailand prenuptial agreement, couples run the risk of being subjected to a long, expensive divorce battle. Lawyer's fees, court fees, witness fees, appraisal fees - all these costs quickly add up. A prenuptial agreement in Thailand can head off this potential conflict and allow a couple to dissolve their marriage in Thailand quickly and painlessly, should it come to that.
- Assigning debt (credit cards, school loans, mortgages) to the appropriate spouse so both spouses don't share debt liability.
Should you happen to marry someone who has a substantial amount of debt, Thailand prenuptial agreement can prevent you from having to take that debt on as your own. Without a prenuptial agreement in Thailand, your future spouse's debt and negative credit history can become your own.
- Protecting Your Children
If you have children from a first marriage that you would like to leave your belongings to after your death, a prenuptial agreement in Thailand is very advantageous. Without one, your belongings legally go to your spouse, who can then decide whether to keep them or give them to your children. By signing a prenuptial agreement in Thailand, you can ensure that your children receive the assets, property or money you want them to have in the event that you die before your spouse.
- Business Matters
If you're a joint owner of a business, or are a partner of a business, Thailand prenuptial agreement can protect your interests in the case of your death. For instance, you can state that your spouse will waive all rights and claims to any part of the business upon your death. You can also state that she is considered a "shareholder" of your part of the business and that the share must be purchased. A prenuptial agreement in Thailand allows you to have your say when it comes to your business---even in the event of your death.
Thailand Prenuptial Agreement. Documents Required;
- Your copy of passport.
- Your Thai fiance copy of ID card or passport.
- List of your property.
Our Thailand prenuptial agreement service will take approximately 3-4 business days.
TILA LEGAL offers licensed professional legal services by experienced Thai lawyers who specialize in family law in Thailand.
We will draft your prenuptial agreement as you wish and also translate to Thai.
Our Professional Fee for Thailand Prenuptial agreement:
Prenuptial Agreement (Thai & English Version)
15,943THB (USD 532)