Pre-nup agreements: a valuable tool for wealth preservation
When done right, such agreements afford spouses-to-be the assurance that an arrangement agreed upon pre-marriage will be maintained post-marriage.
IN a relatively conservative society like Singapore's, pre-nuptial agreements (PNAs) have in the past been viewed with some suspicion. It was seen as inauspicious to envisage and discuss potential divorce before parties had even married.
However, as the stigma associated with divorce lessened over the years - and arrangements have to be discussed anyway when the marriage breaks down - people now see the benefits that PNAs bring. PNAs can list the parties' premarital assets (which are generally not subject to division during a divorce). They can set out the parties' intentions which can be relevant - for instance, if the parties intend to relocate (whether to or from Singapore) after marrying.
What is most important, however, is that PNAs give the couple certainty and peace of mind. When done right, PNAs afford spouses-to-be the assurance that an arrangement agreed upon pre-marriage will be maintained post-marriage.
Copyright SPH Media. All rights reserved.
