Prenuptial Agreement in Thailand
Marriage is not like eating a hot rice that you spit once you get burned, it is a very meticulous process and requires complete personal and legal attention, that is why there is Prenuptial Agreements. Legal matters are complex. Prenuptial agreement Thailand are very fact-specific. If you have questions or concerns about your specific circumstances, it is strongly recommended that you speak with a qualified Thailand family law attorney.
Table of Contents:1. The Civil and Commercial Code of Thailand. 2. Important factors of Prenuptial Agreement. 3. 10 things you need to know about Prenuptial Agreements. 4. What are Prenuptial Agreement? 5. Who needs a Prenuptial Agreement? 6. Limitations of Prenuptial Agreements.
1. The Civil and Commercial Code for Prenuptial Agreement Thailand.
The Civil and Commercial Code of Thailand specifically mentioned the facts and provisions under the Thai law, here are the following sections under the Civil and Commercial Code of Thailand Chapter IV: Properties of Husband and Wife:
Section 1465 “Where the husband and wife have not, previous to their marriage, concluded a special agreement concerning their properties, the relations between them as regards to their properties shall be governed by the provisions of this Chapter.
Any clause in the anti-nuptial (also called prenuptial) agreement contrary to public order or good morals, or provided that the relations between them as regards such properties are to be governed by foreign law shall be void.”
Section 1466 “The ante-nuptial agreement is void if not entered in the Marriage Register at the time of marriage registration terms of the ante-nuptial; or if not made in writing and signed by both spouses and by at least two witnesses and entered in the Marriage Register at the time of marriage registration stating that the ante-nuptial is thereto annexed.”
2. Important factors of Prenuptial Agreement:
- What is Prenuptial Agreement?
- Who needs Prenuptial Agreement?
- What are the Limitations of Prenuptial Agreement?
Here at Siam Attorney we don’t just provide the best solutions for your concerns but we also give you a tailor-fit advice that will give you a hassle-free process.
3. 10 things you know to know about Prenuptial Agreements:
- A prenuptial agreement is a private agreement between a couple signed before they get married which sets forth the division of their assets in the event of divorce or death.
- The agreement has to be fair, the parties have to fully disclose their assets, and the parties each need their own attorney.
- Circumstances dictate fairness. The idea of fairness depends on the unique facts and circumstances surrounding each couple.
- Full disclosure is required. Typically, the parties also have to fully disclose their assets. That is not hard to do here since one can google each of the parties and find out their estimated net worth, in Thailand, marriage with foreigners are usually the ones who engage into a prenuptial agreement.
- Get your own counsel, Couples should each have their own attorneys to represent them regarding the prenuptial agreement.
- Think ahead. Presenting your intended with a prenup the week before the marriage is not good practice. For that reason, the idea of a prenup should be raised long before the marriage.
- Premarital assets are usually off limits. Prenups often state that any assets brought into the marriage remain that person’s separate property. however, each prenuptial agreement is tailored to the couple’s unique assets and the terms they agreed to.
- Setting the terms for alimony. In most instances, the agreement will either waive alimony or not address the topic. If alimony is waived, it means that one party cannot seek alimony from the other in the event of divorce.
- Till death do us part. Most prenups will allow each party to leave their separate property to whomever they want, while requiring some provisions for the surviving spouse.
- Children are off the table. A prenuptial agreement cannot provide for or limit child support or rights related to children. Courts and legislatures do not let couples bargain away the rights of their children.
4. What are prenuptial agreements?
Prenuptial agreements are agreements between prospective spouses made in contemplation of marriage to be effective upon marriage.
A prenup can protect the rights and obligations of both parties with respect to property. If one party owned a house before marriage, the prenup could include a provision stating that this spouse would be responsible for all costs associated with the maintenance of that property.
It can also protect the right to conduct any known transaction concerning property. The prenup could state that a spouse who owned a beach cottage would retain the sole right to sell or lease the property, but the other spouse had the right to use the house and live in it during the summer.
A prenuptial agreement can outline disposition of property if the marriage ends upon separation, death, or the occurrence of another event. A provision could state that if one spouse admits to cheating on the other, a cash payment of a certain amount is made to a certain bank account.
A prenup can also decide which jurisdiction’s law would be used to interpret the agreement and where any legal proceedings would be held. It is recommended that the prenuptial agreement should be drafted by an experienced lawyer and possibly be prepared as a bilingual agreement. Here at Siam Attorney we help you will all the documents and assist you with the process itself.
A valid and enforceable Thai prenuptial agreement requires by Law that:
- It needs to be written on the same date of marriage registration, or;
- It has to be a written agreement signed by both parties.
- Two witnesses are required.
- The agreement should be attached with the marriage certificate where the marriage is registered.
5. Who needs a Prenuptial Agreement Thailand?
Prenuptial Agreement actually depends on the couples and some instances it will depend on the nature of their relationship. In Thailand, majority of the couples who gets Prenuptial Agreement are those Thai-Foreigner couples, foreigners being those who want to make sure they are secured from anything that may take away their hard-earned fortune. If you ask your accountant or lawyer, they’d both likely say everyone. If you ask a family member or friend, you might hear a different answer. If you ask someone who has experienced a difficult divorce, they will likely say everyone, as well. Many people have opinions about prenups but ultimately, it is up to you and your future spouse to decide if your marriage will benefit from having a Prenup Agreement.
6. Limitations of Prenuptial Agreements.
- Parental rights.
- Maintenance waivers.
- Incentives for divorce. Judges may look for provisions in the agreement that appear to provide monetary incentives for divorce.
- Non-financial agreements.
- Signing under Pressure, for this reason, most lawyers suggest that the document is signed well in advance of the wedding.
At Siam Attorney we are experts in Prenuptial Agreement matters. We understand the intricacies of all aspects of Family Law and how to get the best possible outcome for your situation. Please feel free to contact us as: firstname.lastname@example.org