Sunday, 12 October 2008

Pre nupts Revisited: A New Approach

Money can indeed buy love.

Pre-nuptial agreements are probably the last thing a loving couple wants to think about before walking the aisle.

In the interests of simplicity, convenience, and security, I propose a system of pre-nuptial notice. Essentially, all single adults can apply for the Pre-Nuptial Registry and serve notice of their intention to limit the exposure to share their personal assets in the event of divorce. Essentially, a person (A) that had issued such notice to the Registry would bind the whole world (and thus, any prospective partners). So if A (having served such notice) starts a new relationship with B and consequently marries B, the latter is deemed to know - by virtue of the Registry's entry i.e. A's notice - that in the event of divorce between A and B, A will only have to share his personal assets with B to the extent contained in the Registry's notice.

A can always delete the notice at any point pre, during or post the relationship. A can also amend the terms of the notice.

The notice, however, is subject to overriding orders by the court in, say, cases where children are involved.

The advantage of the system is essentially that it gives people the opportunity to avoid the awkward position of saying: "Hey, d'you wanna marry me? But errr....Let's sign a pre-nup first!". How unromantic. Thus, B can always apply for a registry search and read the terms of A's notice - and make plans accordingly.

Any views?

Tuesday, 7 October 2008

Is the Credit Crunch Crunching Brazil?

No need to report the tragic financial results of the past week. However, Brazilian President Luiz Inacio Lula da Silva urged consumers not to be afraid of the global credit crunch and maintain their buying habits because the domestic economy will keep growing. Lula said the Brazilian government is taking measures to shield Brazil from the credit crisis, adding the nation has a record $207 billion in international reserves and no longer owes dollars to creditors. This puts Brazil in a very favourable and resilient position in order to absorb the financial shocks that have been unfolding on global scale over the past year or so.