Marriage has many legal bindings attached with it. The properties that you are holding now, before your marriage also get included in the legal matters in case there is any need of separation. Before your marriage, both the partners need to declare their properties, including the debts. After the marriage, the property is owned by both the partners. In case you don’t want to give any rights on your properties and assets even after breaking of marriage in any case, such details are mentioned in advance in the agreement. These agreements made before marriage are stated as prenup agreements. The agreement details mainly concentrate on five areas. Following are the areas that the prenuptial agreement Singapore concentrates on.
Property right - The right regarding property ensures that your children will have a secured inheritance. This is one of the major area, where law protects the right of your kids, even if your marriage is ended with a divorce later on.
Stay away from creditors - Your partner’s creditors can try to access your assets. The prenup agreements gives the protection to you in this particular area. You can remain protected with your assets, where there will be no access of the creditors of your partner.
Secure your business partners - Your business partners also need protection. This is another part of your asset, which you often forget to consider. However, the prenuptial agreement Singapore provides a protection in this case too. By this act, your business partners will stay protected and you can continue your business easily.
Secure your future relation - After a divorce, when you are going for a new marriage relation, you will be having several obligations. Some of the financial issues include support for your child too. The law comes there to assist you. You can remain protected for your future relation and along with all these, your kids can find what they need and what they expect from you.
Support for the dependent spouse - The act indicates a pay-out for the spouse, who is staying home, leaving his or her career. This shows the balancing of the dependency, even after a divorce.
There are different other features in the law, that supports the spouse. It is better to check the details from an attorney. He or she will give a definite idea and calculation. Hire a good attorney to get the best knowledge and secure your future!
About Author:Jason, is a law student and has interest in writing. He writes on various topic related to criminal law, family law, divorce law, judicial separation, prenuptial agreement, civil and commercial law and other.