In the past, I seldom have any enquiry on prenup Singapore. Many Singaporean couples see prenup Singapore as a taboo subject to talk about.
With more expatriates coming to Singapore, and a more knowledgeable and liberal society in general, more couples are coming to me to draw up a prenup.
What should the prenup contain?
- Facebook founder Mark Zuckerberg and his wife Priscilla Chan agreed to spend more time together. In his prenup, Zuckerberg agreed to go on a date with Chan once a week and have 100 minutes of alone time with her every week. Very wise.
- Justin Timberlake agreed in his prenup to give Jessical Biel $500,000 if he cheats.
- Nicole Kidman agreed to give Keith Urban $600,000 a year, provided that he refrains from using drugs or drink excessively.
- Rapper Jay-Z agreed to provide singer Beyonce with $5 million for each child they have. She would also receive $10 million if the marriage lasts for less than 2 years and $1 million a year for every additional year of marriage up to 15 years.
- They also did a postnup (after marriage) to detail custody issues and division of matrimonial assets, in the event of a split.
See: Rachel Gillett, “The surprising ‘prenups’ of America’s richest couples”, Business Insider, 17 November 2017
Most couples come to me for a prenup if they have concerns on division of assets in the event of a divorce.
Section 112 of the Women’s Charter stipulates that the Court has a duty to consider any agreement (and this includes prenup) between the parties with respect to the division of matrimonial assets made in contemplation of divorce, when exercising its powers to order division of matrimonial assets.
I see prenups as a form of marriage insurance. It works just like travel insurance or life insurance. You do not live your life thinking about death. Nor do you go on a holiday thinking about accidents.
Similarly, no one gets married wondering about divorce.
However, prenup Singapore is a form of insurance that safeguards your interests in the event of a mishap.
We certainly hope that you never ever need to use your prenup. However, it pays to get one.
For more information on prenup Singapore, contact us today!
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