Marriage is considered by many as a union of love – a beautiful celebration of two people promising to stick together through thick and thin, in sickness and in health, and “till death do us part”.
Now imagine how you would feel if, on the eve of your big day, your beloved (or, in some cases, your in-laws-to-be) asks you: “How about we sign a prenuptial agreement?” It is not exactly the most romantic conversation starter, but it is becoming increasingly common.
A prenuptial agreement is a legal document couples typically enter into before tying the knot, outlining how they wish and expect their finances to be regulated in the unfortunate event of a divorce.
If you are a movie fanatic like me, you might remember a classic scene in Yesterday Once More, a film directed by Johnnie To some 20 years ago. Mrs Thief (Sammi Cheng), a divorcee about to remarry, has an eye on an expensive necklace belonging to the family of her fiancé.
While the groom-to-be is baking cookies in the kitchen, his mother, Mrs Allen (Jenny Hu), secretly accosts Mrs Thief to sign a “prenup”, to confirm that the bride is only entitled to wear the necklace and not to own it – unless she stays married until the age of 60. Otherwise, Mrs Allen will repossess it upon divorce.
There is no one-size-fits-all prenuptial agreement. Some dictate the distribution of the couple’s assets or payment of maintenance upon divorce. Others protect assets from being touched. For those who intend to start a family, provisions on arrangements for children may also be included.
