Prenuptial agreements are not new, they have been around for centuries. The concept of a prenuptial agreement is to protect the rights and assets of both parties entering into marriage. In recent years, prenuptial agreements have become increasingly popular in Thailand. With more and more people choosing to get married later in life or marrying for a second or third time, the need for prenuptial agreements is greater than ever.
What are Prenuptial Agreements?
Prenuptial agreements are legal contracts that outline the financial arrangements that will be made in the event of a divorce or death of one spouse. The agreements can cover everything from property ownership to the division of assets, as well as spousal support and child custody. In Thailand, the laws regarding prenuptial agreements are governed by the Civil and Commercial Code, and the agreements must be signed by both parties and registered with the district office in which they reside.
Why is Prenuptial Agreement Necessary?
There are several reasons why a prenuptial agreement may be necessary in Thailand. For one, the country has very different laws regarding property ownership than many other countries. Under Thai law, property acquired during the course of a marriage is considered marital property, and both spouses are entitled to an equal share of it. This can be problematic for foreigners who may not be familiar with Thai law, as well as for Thai citizens who want to protect their assets.
Another reason why prenuptial agreements are becoming increasingly popular in Thailand is that divorce rates are on the rise. According to a report by the National Statistics Office, the divorce rate in Thailand has been steadily increasing over the past few years, with an average of 40,000 divorces per year. With the high divorce rate, it is becoming increasingly important for couples to protect their assets and ensure that they are not left with nothing in the event of a divorce.
Hiring an Attorney for your Prenuptial Agreement
When creating a prenuptial agreement in Thailand, it is important to seek the advice of a qualified attorney. The attorney can help both parties understand their rights and obligations under Thai law and ensure that the agreement is legally binding. The agreement should be fair and reasonable to both parties, and both parties should have the opportunity to review and understand the agreement before signing it.
It is also important to keep in mind that prenuptial agreements can be challenged in court. If one party feels that the agreement is unfair or was signed under duress, they may seek to have the agreement invalidated. This is why it is important to have the agreement reviewed by an attorney and to ensure that both parties understand the terms of the agreement before signing it.
In conclusion, prenuptial agreements are becoming increasingly important in Thailand. With the rise in divorce rates and the different laws regarding property ownership, it is important for couples to protect their assets and ensure that they are not left with nothing in the event of a divorce. By seeking the advice of a qualified attorney and creating a fair and reasonable agreement, couples can protect their assets and ensure that their rights are protected in the event of a divorce or the death of one spouse.