Marital Assets and Debts Under Thai Law

Marital Assets and Debts Under Thai Law

Article by  Nuanchun Somboonvinij, Attorney, Tilleke & Gibbins International.

In Thailand, marital property consists of:

1. Earnings and most other property acquired during marriage
2. Property acquired during marriage through a will or gift made in writing if it is declared by such will or document of gift

Property that is acquired during the time a couple is married is generally considered marital property.  Consequently, marital property may include tangible assets such as cash in hand or in a bank account, vehicles, paintings and so forth, plus non-tangible assets such as retirement benefits or lease rights.  It also includes the fruits generated by a spouse’s non-marital property during the marriage.  For example, if one partner owns a dairy farm before marriage, the income generated by selling dairy products during the marriage is treated as the couple’s marital property.

Certain assets may be excluded from marital property and are not divided between the parties.  The general rules is that non-marital assets include the following:

1. Property acquired before the marriage
2. Property for personal use such as jewellery or tools of a profession
3. Property acquired from an inheritance
4. Property acquired as a gift 
5. Property excluded by a valid prenuptial agreement

Marital assets cannot be divided until a couple gets divorced.

Marriage gives partners not only the right to share in each other’s gains, but also the obligation to share each other’s losses.  This means that spouses share equal and joint responsibility for the debts they incur during their marriage.

What do you think?  Is this a fairer and simpler system?

Overseas maintenance agreements: Are they enforceable in Australia?

Overseas maintenance agreements: Are they enforceable in Australia?

The short answer in Yes.

Australia is a party to a number of international conventions and agreements regulating the recognition and enforcement of maintenance obligations.

Australia was a party to the New York convention on the recovery abroad of maintenance.

Australia also became a party to the Hague Convention on the recognition and enforcement of decisions relating to maintenance obligations.  This convention establishes reciprocal arrangements with other contracting countries to recognise and enforce maintenance decisions made by judicial or administrative authorities in convention countries.

The Child Support Agency in Australia now has the responsibility for the registration and enforcement of overseas maintenance orders and agreements.  An overseas maintenance agreement can be registered and enforced if it is otherwise a registrable maintenance liability.

There are specific provisions relating to maintenance in respect of New Zealand and the United States of America.

Overseas financial agreements: Are they enforceable in Australia?

Overseas financial agreements:  Are they enforceable in Australia?

The short answer is No.

If parties are living and working overseas any financial agreement they enter into in the country in which they reside before, during or after the relationship has ended, subject to the requirements of the jurisdiction in which the parties reside, which agreement is enforceable in such countries, cannot be enforced in Australia.

If the parties have property in Australia and if they do reside overseas and own property overseas, it would be advisable for such parties to enter into a legally binding and enforceable financial agreement in Australia as well as entering into a similar financial agreement overseas.

Australia is not a party to any convention dealing with the recognition and enforcement of international pre nuptial agreements.

Collaborative Practice

We are currently involved in a collaborative matter involving parties who were originally from a large regional town in Victoria. 

The parties had extensive business interests in the town where they had resided together and substantial assets which assets were included in the business, personally and in their superannuation fund.  The business was a successful business although the husband had extended their company and personal debts beyond a level that was sustainable from the income earned by their business. 

Collaborative meetings were arranged to take place in Melbourne.  The husband engaged a solicitor in Melbourne to act on his behalf.  I was acting for the wife who resided in Queensland.  My client and I travelled to Melbourne by plane on the days scheduled for our collaborative meetings.

My client was still emotionally involved as a result of the breakdown in her marriage.  Assisting us with the collaborative meetings were a psychologist (a communication expert) and an accountant (financial adviser).  All professional members of the collaborative meetings had been trained in collaborative practice.

The psychologist met the parties prior to the meetings taking place and gained a full knowledge of their emotional issues and of matters that were of concern to them.  A debriefing was arranged with the professional members of the collaborative group prior to the meeting taking place with the parties so that we had a full knowledge of emotional issues which might be disruptive to the meeting.  The psychologist took control of the initial stages of the first meeting to set the tone for the meeting and to assist the parties in communicating with each other.

Collaborative practice was a great assistance to these parties in resolving financial issues arising from the breakdown in their marriage.

Did you know that Madonna, Uma Thurman and Robyn Williams used the collaborative approach to resolve matters arising from the breakdown in their marriages.

What do you think of Collaborative Practice? 

Do you believe it is an effective way of resolving matters arising from the breakdown in a relationship?

Gwyneth Paltrow And Chris Martin Separate Using The Collaborative Process They Call “Conscientious Uncoupling”

The following is a joint statement issued by Gwyneth and Chris on the breakdown in their relationship.

It is with hearts full of sadness that we have decided to separate. We have been working hard for well over a year, some of it together, some of it separated, to see what might have been possible between us, and we have come to the conclusion that while we love each other very much we will remain separate. We are, however, and always will be a family, and in many ways we are closer than we have ever been. We are parents first and foremost, to two incredibly wonderful children and we ask for their and our space and privacy to be respected at this difficult time. We have always conducted our relationship privately, and we hope that as we consciously uncouple and coparent, we will be able to continue in the same manner.

Have you heard of parties conscientiously uncoupling?

This is similar to Collaborative Practice which has been a means of resolving a relationship breakdown in Australia for many years.

Are you aware of Collaborative Practice?

We look forward to your comments in this regard.

If you wish to obtain information in regard to Collaborative Practice refer to our website.

Relationship Counselling

Counselling can be of a great benefit in resolving problems arising from a breakdown in your relationship.  There are qualified counsellors in private practice as well as in government and community based organisations.

 Counselling works best if you and your partner attend counselling sessions of your own free will. 

If you find difficulty in resolving the parenting arrangements for the children after a breakdown in your relationship then the Family Court requires that you attend on counselling or mediation prior to raising these matters in any Court proceedings.  The Federal Government has established Family Relationship Centres for this purpose.  There are no charges for attending at these Centres.

Counselling may be of assistance to enable you to maintain your relationship.  If however this is not possible counselling will be helpful in resolving emotional issues resulting from the separation.

Do you agree with this?  Are there any others you believe should be considered?

Decisions You May Need To Make When Considering A Separation In Your Relationship

• Weigh the financial consequences of remaining in the relationship or separating from the relationship 
• What are the best arrangements for the children?
• What are the financial needs of the partner and children - should I separate?
• How am I able to provide for those needs?
• What involvement do I wish to maintain in my children's lives?
• What is the most practical division of the assets to cater for the needs of myself and my family?
• Do I require assistance to deal with the emotional, financial and legal issues arising from a separation?  

Do you agree with this?  Are there any other factors you believe should be considered?