Prenup Agreement- Things to consider before signing it

Love is not bed of roses as we dive in emotions and long for togetherness but it misleads and can be indeterminate and vague at the same time. This has never stopped couple from announcing their big days but everything comes with an expiry and love is no miracle unless we think and make it to be. Contemplating marriages from putting love in exact terms with a pre-nuptial agreement is certainly on either way a biggest need of the hour. Couples can dictate where they should live, have how many kids or in rather case how the matrimonial assets be divided.

Apparently in Singapore, couple may even include and conceive “force-majeure” clauses by successfully including:

·         How much of a spouse can receive as maintenance

·         With broken marriage, the term of forfeiture of assets is done by which side of party.

As prenup is a legally binding contract that is signed after a marriage it is meant to be as it is. So whether you end up divorcing, the contract visibly states that how premarital as well as marital assets will be divided up. In recent past, a prenup might even be viewed as one of an escape clause. Additionally, various other couples are also looking at it to resolve difficult issues calmly during good times as contradicted to emotions and tensions present in light of divorce. 

For everyone who is considering signing one should take few things in consideration:

 

·         The Court has the Final Say in Things: The prenuptial agreement is meant to be sanctioned by court under the Women’s Charter under their own scrutiny and possess all the power to divide matrimonial assets.

·         Maintenance is A Must:  A husband can’t draw out of paying maintenance for his wife and children thus no matter what he has to pay it all.

Ensure you know it all about family law in Singapore and then ensure that you seek legal advice before signing the prenup.