Many couples elect to enter into an agreement prior to marriage outlining the division of their assets in the event of separation or divorce. These agreements provide peace of mind for both husband and wife, giving them a clear set of rules governing the division of their assets should things turn sour.
Women’s Charter (Singapore)
The Family Justice Courts of Singapore have the power to order division of matrimonial assets under Section 112(2) of the Women’s Charter (Singapore). Under the law, it is the duty of the Court to take into account “any agreement between the parties with respect to the ownership and division of the matrimonial assets made in contemplation of divorce”.
A prenuptial agreement falls under the category.
What if I am already married?
A prenuptial agreement is entered between 2 parties prior to the marriage.
If you are married, you may wish to enter into a marital agreement with your spouse. In the event that you are contemplating separating from your spouse, you may wish to have a deed of separation prepared for the both of you.
Both the marital agreement and deed of separation function in the same way as a prenuptial agreement. Protect your interests today!
Your divorce/ family lawyer can assist by:
1. Advising you on the implications of divorce/ annulment/ separation on your assets and how your financial interests can be safeguarded.
2. Drafting your Will.
3. Drafting your (1) pre-nuptial agreement, (2) post-nuptial agreement (marital agreement) or (3) deed of separation to stipulate the ownership and division of matrimonial assets should the marriage be annulled or if parties separate/ divorce.
You may also be interested to read more about:
2. Annulment (Nullity) of Marriage
5. Maintenance Issues (Alimony)
