Advantages of a Prenuptial Agreement in ThailandGetting married is easy, but staying married is hard. Given the adversities that married couples encounter, it is advised that a prenuptial agreement is entered into before getting married in Thailand.
A Thailand prenuptial agreement is necessary because it guides couples in managing their property relations. It helps potential spouses in dealing with the fruits or profits of their separate properties during marriage. It is especially advised if parties to the marriage are mixed. This is because mixed marriages have a higher rate of divorce.
A prenuptial agreement is a contract entered into between the bride and the groom before their marriage. Essentially, it lists down the properties of the bride and the groom. It specifies their separate properties as well as their common properties. It also provides who gets the profits or fruits of their separate properties.
Entering into a prenuptial agreement gives the bride and the groom the following benefits:
1. Safeguards separate properties
2. Protects business assets of one spouse from the debts incurred by the other spouse
3. Secures the welfare of the children of one spouse in a previous marriage
4. Retains ownership of businesses within the family
5. Prevents court battles regarding distribution of property
In entering into a Thailand prenuptial agreement, certain formalities must be followed. These formalities must be observed to make such prenuptial agreement legally binding. In Thailand, a prenuptial agreement is only valid if it is executed according to the formalities provided under the Thai Civil and Commercial Code.
The following are the requirements of a valid prenuptial agreement:
1. Entered before marriage
xxa. A prenuptial agreement entered into after the marriage registration is void.
2. Parties must understand the contents of the prenuptial agreement
xxa. In case of a mixed marriage, the prenuptial agreement must be drafted into two versions, Thai and English. This is so the parties fully understand the agreement.
3. Contents must be in accordance with the law or good morals
4. Signed by the bride and groom in the presence of at least two witnesses
5. Entered into the Marriage Register with the Marriage Registration
Aside from complying with the provisions of the Thai Civil and Commercial Code, the laws of the alien spouse must also be followed.
Entering into a prenuptial agreement can be difficult. Not only must the agreement have valid contents, but it also must follow certain formalities of law. A prenuptial agreement that did not observe the proper way of drafting it is a mere scrap of paper. In fact, there are countries which do not recognize improperly drafted prenuptial agreements.
To be sure that a prenuptial agreement is recognized, it is best to hire the services of a Thailand lawyer who knows even the most complex laws and principles involved in drafting a prenuptial agreement in Thailand.
This article was provided by Siam Legal, an international law firm with offices in Thailand, the Philippines, the United Kingdom, and the United States. Siam Legal publishes guides to marriage in Thailand on its website.
Source : Siam Legal International