When you enter into a prenuptial agreement you have the right on all your assets even if you decide to end your marriage with your partner. This is a contract which has to be signed by both the partners before getting married and then it enables them to hold all the properties and the finances that they had before their marriage and in case of a divorce, they don’t need to equally divide the assets. It can also include contracts which are made for the spousal support and some people also make provision in this agreement regarding the forfeiture of the partner’s properties if the reason behind their divorce is found to be adultery. If you don’t have this prenup agreement, you may end up giving half of your assets in case you want to get a divorce from your partner.
In earlier times when the women don’t used to work and earn their living then if there is any case of separation between the partners then the husband used to take care of the financial needs of his ex partners. Moreover there is a system that the partners can get alimony if they are going for a divorce because of some adultery reason of even for some other reason. If the separation in because of some adultery reason, then as mentioned above in prenup agreements also there is provision of getting alimony or forfeiture of the assets of the partner but if the case is not of adultery rather mutual, then if you have signed up this agreement, then you need not to pay the amount of the alimony and also the other partner can forfeit your assets. When you have this prenuptial agreement Singapore, you don’t need to take the financial obligation of your partner on your shoulder after you two are separated officially. You both are going to have individual right on your assets and there is no financial interdependence.
This prenuptial agreement Singapore helps you hold on to the rights of the separate properties that you own before hand of the marriage and no one can forfeit this properties. This agreement can settle the disputes about the expenditures and the finances that you have with your partner. This agreement can be used for solving many problems in the future regarding the finances of the partner and thereby may also safeguard the relation. This agreement can also support the plans you have regarding your estates.
About the Author:Jason, is a law student, currently working with one of the International law firms in Singapore. He writes on various topic related to family legal services.