Daily Archives: September 29, 2010
Our New Chinese Language Advertising Blitz on Sing Tao Daily
As we are striving to serve the Chinese-speaking community better, recently we’ve started a new advertising campaign in the Sing Tao Daily.
We’ll be evaluating the effectiveness of the campaign at the end of the month. Please leave a comment and let us know if the ad works for you.
Drafting a Marriage Contract or Prenuptial Agreement: What You Need to Prepare
Recently I’ve drafted a few marriage contracts (or prenuptial agreements, if you are American). Before engaging with your lawyer to start drafting the contract, there are a few things you can do to help speed the process along.
First of all, you should have a discussion with your spouse-to-be on what the marriage contract should include.
You can include almost anything in the marriage contract, such as spousal support and property division, the two most popular topics. Other clauses may include estate planning issues and the right to keep the family pet after separation.
However, you should keep in mind that while a marriage contract can include the upbringing of the children, it cannot govern a parent’s right to custody and/or access to the children. For example, if the parties decide to have joint custody of the children in the event of separation or divorce, such a provision will be unenforceable when the time comes, even if it appears to be a sound and fair pre-emptive resolution.
When you have a clear understanding of the contents of your contract in advance, your lawyer will likely have fewer questions for you, and hence the cost to you will be significantly reduced.
Besides having a candid discussion, you and your fiancé(e) should each have a comprehensive list of assets and liabilities that is current. Under the law, failing to disclose significant assets or liabilities may be a ground for the other party to apply before the court to have the contract set aside.
Because of the adversarial nature of the marriage contract, one lawyer cannot act for both parties. If your significant other doesn’t have a lawyer, ask your lawyer to provide a few names so he or she can obtain independent legal advice.
If the terms of the contract are clear, a marriage contract can be done quite cheaply. However, if the drafting of the contract is plagued by constant revisions as the parties can’t agree on the terms, the costs may increase significantly.
