|
Prenuptual Agreements in the Philippines (Prenups)
As you can see from the article below, prenuptials
are not the norm in the Philippines, but only for
those few who are aware they can have such a side
contract. Prenups seem to fly in the face of the
family code that says "Marriage is for life," and in
a country where there is no divorce. There is
exceptions. Divorces obtained by foreign nationals
in a country that recognizes divorce are honored
here.
See the Philippine Family
Code.
These prenups speak to the division of assets and
custody in the event of a “separation” in the
Philippines. Only separations and annulments can
part partners in a marriages in the Philippines
absent the exception mentioned above and in the case
of Muslim marriages, where divorce is allowed.
If you are marring a Filipina, Filipino and are
concerned about your asset’s, you should consult an
attorney to determine if a prenuptial agreement is a
good idea for you. It is doubtful the Filipina,
Filipino spouse will welcome it, But to be on the
safe side it is something you might want to consider
if you have concerns.
July 2006
PRE-NUPS, PHILIPPINE STYLE
Those
still wanting to get hitched prepare for the worst
( By:
RIANNE C. TECSON of Sun.Star Cebu )
With
the rising trend of separations, couples are getting bitten by the
practical bug. And before exchanging "I do's," some have
their lawyers draft a pre-nuptial (pre-nup) agreement.
Pre-nups,
also known as marriage settlements in the Philippine
laws, are basically arrangements between a couple on how
they will share or divide their properties once they tie
the knot. This document is executed by the couple before
their marriage and should be notarized.
Lawyers
interviewed by the Sun.Star Cebu said there is no
specific formula in coming up with a pre-nup; it all
depends on the whims and caprices of the couple. This
explain why in the
United States
, some
pre-nups include absurd provisions such as not allowing
the woman to gain weight or even have children.
In the
Philippines
, though,
pre-nups are mostly confined to the properties brought
into and acquired during marriage. There are three
common types governing arrangements of couples who go
into the pre-nups.
First
the absolute separation of property, where
the couple separately own the properties and the fruit
of there properties.
Then there's the conjugal partnership of gains, where
the couple gets separately keep whatever properties they
acquired before and during the marriage, but will have
to share the ownership of the fruits of the properties
acquired while they were married. Those who married
before 1988, when the Family Code was passed, are under
this regime.
Another type of pre-nup followed by
some couples is keeping for themselves the properties
they acquired before the marriage, but sharing ownership
and fruits of the properties they acquired while they
were married.
Most pre-nups, one lawyer told Sun.Star Cebu, do not
have provisions on support for the children "since it is
the presumption of the law that the couple will mutually
support the children out of their own funds.
RARE
While we hear of pre-nupsbeing
drawn nowadays, especially among celebrities, it is still not
commonly practiced in the
country.
In her nine years of
experience, one lawyer said she has notarized only five pre-nups.Yet lawyers interviewed
by Sun.Star Cebu recommended drawing up pre-nups to their clients.
A pre-nup is better
because you can always refer any differences ( in the marriage) to the contract, one
lawyer said.Another
pre-nups serve as mutual protection for the couple, given the rising trend of separation
nowadays.
Anyway, if
one feels that he loves his partner enough not to worry about what he might lose, the
good thing about a pre-nup is that just like any
contract, it can be revoked.
More Pages:
|
