A Prenuptial Agreement is a written contract between a couple to provide better schedule on the ownership of properties acquired before and during the existence of their marriage. Aside from this, the “pre-nup” may also contain liabilities of each party and how these will be divided and or addressed to in the event of a divorce.
The negotiation is usually done before marriage.
The execution of a "pre-nup" is lawful as it is covered by Sections 1465 to 1469 of the Civil and Commercial Code of Thailand.
Benefits of Prenuptial Agreement
Negative perceptions on the purposes behind a "prenup" do exist. Some people think that by executing such document, the element of "trust" in the couple's marriage is not there.
Yet in reality, a prenuptial agreement protects one spouse from the other spouse's incurred debt if there are any. It also minimizes the possibility of the couple contesting the ownership of properties in court thus effectively reduces the possibility of the divorcing couple to separate with much animosity on each other. A “pre-nup” also minimizes the possibility of the separating parties incurring additional financial burden from court and attorney's fees.
Upon making the draft, the couple may include clauses that covers their responsibilities over their children.
In line with this, it is advisable for those who are planning to execute a Prenuptial Agreement to approach reputable lawyers for proper advice about making a draft, ensuring that the clauses are applicable and ensuring that the contents therein are all in line with the prescription of the law.
Having a lawyer also ensures the document to be registered properly and become applicable in Canada.