Gafencu quotes Vanessa Duff on breakdowns of trust in marriage and the role of prenups
In an article on breakdowns of trust in marriage, and the need for individuals to protect their assets, international monthly luxury lifestyle magazine Gafencu reports that the institution of marriage is alive and thriving throughout the world.
However, happy marriages are not always sustained. There is a growing acceptance of divorce, especially in countries where women are economically self-sufficient. Hong Kong has even recently been dubbed the ‘divorce capital of Asia’.
Many legal advisers are now suggesting that couples should consider this eventuality and draw up a prenuptial agreement well ahead of the wedding. Such contracts have become increasingly popular in the Western world, and it is far easier and less onerous to outline arrangements for a potential split beforehand, rather than when trust in a marriage breaks down.
Vanessa Duff, Family Partner in our Hong Kong office, gives her views in the article on a number of considerations that individuals ought to keep in mind. She explains:
It [getting a prenup] can sometimes be a delicate conversation to have following an engagement, and it is important to choose the moment carefully. Prenuptial agreements are recommended for those who may be entering into a (possibly second or third) marriage in later life and wish to protect their children and assets they have built up in the past.
Vanessa goes on to discuss pre-wedding planning and the need for transparency, as well as the role a prenup can play in the division of assets during a divorce in Hong Kong.
Read the full article in Gafencu here.
