Prenuptial agreement in the Philippines: the pros and cons, and the whys and the hows of it

When we envision ourselves getting married, we usually imagine a grand wedding ceremony, an unforgettable honeymoon in our dream destination, and unending wedded bliss afterwards.

These visions are of course not necessarily how life is going to be. The reality is that married couples will encounter many arguments and all sorts of trying times in their marriage, including financial issues or money problems.

How do husbands and wives avoid sticky situations involving money or properties?

This is where a prenuptial agreement or marriage settlement enters the picture. But, before you sign one, learn more about what it entails and what the Philippine laws on marriage a.k.a. Family Code of the Philippines says about it.

Financial issues or money problems are among the top marital problems that many married couples encounter, and unfortunately in some cases, these could also be marriage-killers.

Before you walk down the aisle and say "I do," it's best to talk to your future husband or wife about whether you want to keep your individual properties after marriage or make it part of your conjugal property.

What does the law say about marriage and property?

Article 75 of the Family Code of the Philippines states:

“The future spouses may, in the marriage settlements, agree upon the regime of absolute community, conjugal partnership of gains, complete separation of property, or any other regime. In the absence of a marriage settlement, or when the regime agreed upon is void, the system of absolute community of property as established in this Code shall govern.”

What does that mean?

It means once a couple gets married without a written agreement, each of their properties will automatically become conjugal property or property owned by both spouses.

Therefore, if you plan to combine whatever money or property you have accumulated or owned while you were single with that of your spouse's, then there's really no need for a prenuptial agreement.

But, if you're a realist and want to avoid any possible dispute over money or properties, then you should consider taking the pragmatic step of signing a prenuptial agreement with your future spouse.

This way, you can specify which of your properties you would like to retain as yours and which ones you want to combine with that of your spouse's, if any.

Having a pre-nuptial agreement will also be beneficial for both parties in the event that the couple decide to separate or file for a divorce later on. It will make determining which properties goes to which spouse easier and will prevent any possible nasty dispute over properties.

Should you have a marriage settlement or not?

The concept of having a prenuptial agreement was once frowned upon as it is often interpreted as a lack of trust in your husband or wife-to-be.

However, public opinion about marriage settlements has changed overtime, and people are now more open-minded about it.

To answer the question of whether you should sign a prenup agreement with your future spouse or not, we say the decision is completely up to you.

We've laid down the pros of signing and not signing a marriage settlement above, and you can discuss it thoroughly with your partner. At the end of the day, no one else can better decide how you're going to live your life after marriage other than you and your future spouse.

For more information on what the Philippine laws say about prenuptial agreements, watch Unang Hirit's resident law expert, Atty. Gaby Concepcion's detailed discussion about it: