Do you and your prospective spouse wish to agree on financial issues before you are legally married to each other? You may consider the option of having a prenuptial agreement. A prenuptial agreement in Hong Kong is commonly abbreviated to prenup or prenupt. Our lawyers can offer this legal service which include legal advice and drafting.
A prenuptial agreement is a contract entered into prior to marriage, civil union or any other agreement prior to the main agreement by the people intending to marry or contract with each other. In the situation of Hong Kong, we mean 'prior to marriage".Objectives
Content of Prenuptial Agreement
- To cut huge legal fees in disputes that can last for years
- Save parties from mental trauma in litigation or legal proceedings
- Resolve financial issues more easily with the least intervention by the laws or courts
- Reduce chance of personal attacks which hurt both parties, especially when it is done in legal proceedings
- Option to deal with marital relation which is more amicable than by a legal battle
The content of a prenuptial agreement can vary widely, but commonly includes:
- Division of property and
- Spousal support in the event of divorce or breakup of marriage
- Terms for the forfeiture of assets as a result of divorce on the grounds of adultery
- Conditions of guardianship
In some countries, including the Netherlands, the prenuptial agreement not only provides for the event of a divorce, but also to protect some property during the marriage, for instance in case of a bankruptcy. Many countries, including Canada, France, Italy, and Germany, have matrimonial regimes, in addition to, or some cases, in lieu of prenuptial agreements.
Postnuptial agreements are similar to prenuptial agreements, except that they are entered into after a couple is married.
For more information or inquiries, please call our lawyer Mr. David Mann