The term “prenuptial agreement” refers to a document that outlines all of the properties and debts owned by a couple. It also specifies what each person’s property rights will be after they are married. It is a popular method of protecting assets and avoiding disputes during a marriage or in the event of a divorce.
There are many reasons to consider a prenuptial agreement, but the main advantage is that it helps prevent disputes over ownership of property. This is especially true in Thailand, where everything that a person owns before they get married remains personal property throughout the marriage under Thai matrimonial laws.
A well drafted prenuptial agreement will also specify the division of assets if there is a divorce in the future. This allows for a fair and equitable distribution of assets. In addition, a prenuptial agreement can prevent a spouse from inheriting their partner’s debts if the latter has significant debt or a poor financial history.
The process of a Prenuptial Agreement in Thailand involves both parties receiving separate legal counsel and signing the contract in front of two witnesses before it is registered with the district office where they intend to register their marriage. This is in addition to the requirement of obtaining a certificate from the Thai Ministry of Foreign Affairs or an embassy to verify that it is in compliance with the laws of both the draftees’ home countries and Thailand.
Obtaining the necessary legal counsel is crucial in order to ensure that the terms of the prenuptial agreement are not against public morals and laws. Any terms that are against the statutory system of personal and concrete joint property between husband and wife or which are unfair under Thai law will be null and void in the event of a court decision (section 1465 of the Commercial and Civil Code of Thailand).
It is advisable to seek counsel from an experienced, dedicated family lawyer with expertise in both the laws of the draftees’ home countries and that of Thailand before drafting a prenuptial agreement. This will help to ensure that your prenuptial agreement is a legitimate, legally binding contract and will be more likely to be enforced in the event of a later court case.
In order to protect your rights, the contents of a prenuptial agreement should be thoroughly understood by both the involved parties and the terms should be prepared in both English and Thai. The agreement should also be notarized in the draftees’ home country to ensure that the signatures of the involved parties are authentic before a Thai court.
Prenuptial agreements in Thailand are usually written by a Thai attorney or firm specializing in family law. This will ensure that the agreement is drafted according to the individual needs of the involved parties and will help to avoid any confusion as to the details of the agreement.
A good prenuptial agreement in Thailand will prevent any anticipated arguments between the involved parties as to their property rights after marriage and prevent any potential claims that could be brought against either party in the event of a divorce. It is recommended to enumerate each person’s properties and debts in the agreement, which will eliminate any potential disagreements over ownership of these assets.