A Prenuptial Agreement in Thailand is a contract entered into by a couple before they are legally married that specifies their property rights in the event of divorce or death. This is an important step for couples who want to protect their assets and minimize the financial toll of divorce.
A prenuptial agreement complies with the Thai Civil and Commercial Code, which is a statutory law that governs all private contracts in Thailand. However, it is always advisable to seek the counsel of a competent Thai family lawyer, solicitor or attorney familiar with both the laws of your home country and Thailand when making a prenuptial agreement.
The first step in preparing a prenuptial agreement in Thailand is to identify all of the personal properties and debts that each party owns before marriage. This information is required to be listed in the documents attached to the prenuptial agreement that will be registered at the time of marriage.
This will prevent any disputes over the distribution of the properties and debts in case of a divorce. It will also help to ensure that each spouse is provided for in the event of divorce and can avoid future problems due to insufficient funds.
Prenuptial agreements can include provisions such as waiving alimony, spousal maintenance or support, inheritance rights and child custody. These can all be incorporated into the agreement to ensure that both spouses have their interests protected.
In addition to limiting the scope of dispute over property in the event of divorce, prenuptial agreements can also protect your personal interests in cases where you own a business. This can include limiting your spouse’s rights and claims to any part of the business in the event of your death.
A prenuptial agreement can also help to resolve a variety of other issues that may arise during the course of your marriage or if you divorce. For example, it can be used to assign certain debts (credit cards, mortgages, school loans) to the appropriate spouse.
If a person is in debt, it can be difficult for them to maintain their lifestyle in the event of a divorce. Having a Thailand prenuptial agreement can be beneficial in this regard as it will prevent the other spouse from taking on this debt and credit history as their own.
Moreover, it is possible to state that in the event of divorce or death, certain assets will be distributed between the parties based on how the assets were acquired. This can be particularly helpful in cases where the couple has a large amount of money and other resources, such as land or property.
As for spousal support, it can be waived in some Western jurisdictions, which can make a significant difference to the level of maintenance that the couple will receive. For this reason, it is advisable to consult an experienced Phuket divorce lawyer with expertise in international family law to assist you with the drafting of a prenuptial agreement.