Advantages of Having a Prenuptial Agreement in Thailand

The annulment and severance of the marital bond between the spouses necessarily brings forth the eventual inventory and distribution of their respective properties accumulated previous to and during the former marriage. As such, a prenuptial agreement in Thailand serves as a handy tool in assigning a particular property without the difficulties normally associated with imputing its ownership and management.
Executing a Thailand prenuptial agreement previous to a marriage has proven to be advantageous to both of the spouses for a myriad of reasons. The following are the most common and manifest advantages brought about by such an agreement:
First, entering into a prenuptial agreement produces certainty with regards to the ownership and management of the properties of the spouses. The agreement itself may serve as primary proof and evidence of ownership of the properties inventoried as the claiming parties have signed the same. Therefore, in case of marital dissolution, the parties may simply refer to the said agreement for proprietary guidance. Moreover, a prenuptial agreement in Thailand may also operate as a quitclaim wherein one of the spouses divests himself or herself of material interest over a particular property. This added facet may prove to be pertinent in instances involving real property in order to prevent possible legal complications.
Second, as a consequence of the eased facility by which the division and distribution of the property regime could be undertaken, costs during such procedure are much lower than those normally incurred as less time and expenses are needed for its conclusion.
Third, the inclusion of an inventory in the agreement serves as protection against excessive debt incurred by either spouse as the ownership of the respective properties are delineated and resort by a debtor to the property of the other will not normally lie. Under Thai law, personal property becomes answerable for debts that have been incurred by both spouses jointly. In case of situations where only one spouse has sustained a personal debt, a prenuptial agreement effectively bars the creditor from resorting to the property of the other spouse.
Lastly, the effects of a Thailand prenuptial agreement transcend both the marriage and its eventual demise as it may also function as a tool for estate planning. By separating a particular property from the community property mass, the owner is ensured that ownership over the same would revert back to the original estate.
ABOUT THE AUTHOR: Dennis P. Ramm
Dennis P. Ramm is Partner with Siam Legal International which is Thailand Largest Legal Services Network with offices in Los Angeles, London, Manila and Bangkok. Dennis works with American Attorneys, UK Solicitors & Barristers, German Lawyers, and Australian Solicitors providing Thailand family law services including Thailand Prenuptial Agreement, Thailand Marriage and Divorce in Thailand. Dennis has over 30 years of management, government and business experience.