Annulment: Prenuptial Agreements

What are they?

Prenuptial agreements refer to contracts entered into between spouses before a marriage as a form of insurance against the possibility of divorce. Due to their contractual nature, they must satisfy the requirements of any basic legal contract.

What matters can a prenuptial agreement deal with?

Almost all matters concerning the state of affairs between two person married to each other can be dealt with in a prenuptial agreement. The broad subjects include rights over property, maintenance, and custody matters.

What are the usual terms in a prenuptial agreement?

The usual terms include:

1. Ownership of property during the marriage and any special arrangements made by the parties;
2. Division of properties during separation or divorce or death of one party;
3. Liabilities and debts owed by one or both parties;
4. Maintenance issues; and
5. The governing law of the prenuptial agreement.

Benefits of prenuptial agreements

Prenuptial agreements can:

• Offer supplementary certainty in the financial arrangements of the parties;
• Protect the assets acquired by each party before the marriage;
• Safeguard spouses from the debts incurred by the other party; and
• Protect family heirlooms or family businesses in the event of divorce.

For more information, please visit http://www.gjclaw.com.sg/areas-of-practice/family-law/pre-nuptial-agreement/.