The Prenup Agreements has to be mutually singed and agreed upon which ensure that in case of separation your personal properties will belong to you and no one have the right to share it.
Prenup agreements can be really beneficial in this age when marriages are not certain and since now a day both men and women earn their living by themselves or can earn their living by working, so there is also no need to depend financially on your spouse after you got your divorce done. This agreement is legally done to ensure that even if you file for the divorce you need not to divide your personal asset with your better half after the divorce procedure. The prenup agreements or the contract has to be agreed upon by both the partners before the marriage and they must try to build their own asset and financial base in case there is a separation and one is not working. This agreement gives the right to hold on to the assets of your own while you have your separation with your spouse.
This prenuptial agreement Singapore may also have the clauses for the spousal support where you need not to divide your asset or pay any kind of alimony to your spouse after the marriage but you need to support him or her in case he or she is not able to earn the living for them. Another clause that may be added to the agreement is related to the forfeiture of the properties of the partner in case the partner is associated with any kind of adultery and that is why you have decided to end the relation.
It is seen that the couple who are getting divorced try to snatch each other’s property. There are even marriages where people just live with each other for the monetary benefits. To avoid getting ruined by your partner because of the separation and division of the entire asset, you must prepare a prenuptial agreement Singapore which can save you in lots of way. Most importantly since it requires the permission of both the partners, you can understand the motive of your partner when you ask him or her to sign the agreement. There are many cases where the couple get separated before the marriage itself when asked to sign this agreement.
The property and the finances which are earned by you before marriage or even after the marriage is yours and if the marriage is ending then there should not be any right of your spouse on that assets and this is what a prenup agreement says.
About Author: Jason, is a law student, currently working with one of the International law firms in Singapore. He is curently writing on topic related to marriage reconciliation agreement in Singapore