‘Mine is mine, yours is yours!’ What is prenuptial agreement?

After the confirmation of the breakup of celebrity couple Bea Alonzo and Dominic Roque, various speculations emerged regarding its possible reasons. One of these speculations revolves around the "prenuptial agreement."

‘Mine is mine, yours is yours!’ What is prenuptial agreement?
Photo courtesy: Freepik

There have been rumors circulating that Dominic supposedly refused to sign the prenup, but according to showbiz insider Ogie Diaz, it was actually Dominic himself who suggested that they have a prenup agreement, to Bea's own mother.

But what exactly is this prenup agreement that is often done before the actual wedding ceremony?

The prenuptial agreement or prenup agreement is a legal agreement undertaken by two individuals before they agree to the wedding ceremony or union. Through this, they establish conditions related to their assets, financial responsibilities, and other aspects of their relationship.

The usual aim of a prenup is to identify and provide fair rules for the division of assets in the event of divorce or separation. Prenups may include provisions regarding spousal support, decision-making about assets acquired before or during the marriage, and other events or conditions that may affect their property and finances.

Prenup agreements are commonly conducted by the wealthy, individuals with businesses, or those with assets they wish to protect in times of separation or divorce. However, it can also be beneficial for anyone who wants to have clear agreements and rules in their relationship. It is a way of protecting individuals and setting expectations before they get married.

In one episode of GMA Network’s "Dapat Alam Mo!" in February 2022, legal counsel Atty. Rudolf Jurado discussed the importance of having a prenup agreement.

He mentioned that it provides freedom for spouses to have their own assets because under the law, once couples are married, everything becomes conjugal. This means that spouses share ownership of all assets and properties they acquire.

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.”

It signifies that when a couple marries without a written agreement, all their assets automatically become shared property owned by both spouses. Hence, if you intend to merge your individual finances or properties acquired before marriage with those of your spouse, a prenuptial agreement may not be necessary.

“Sa prenuptial agreement, pwede mong sabihin na ‘kaniya-kaniya tayo’ o tinatawag na complete separation of property. Ang tawag ko rito ay, ‘ang akin ay akin, ang sa’yo ay sa’yo,’” the lawyer explained.

So the lawyer's advice to those planning to get married is that before the ceremony, they need to sit down and discuss it in front of their legal counsel.

"Dapat gawin ito bago kayo ikasal dahil 'pag nakasal na kayo, hindi na kayo puwedeng mag-usap na kaniya-kaniyaya tayo,” he stated.

In the article "Pax Law Corporation," they listed down various reasons why a prenup agreement is necessary:

Protect personal assets.
  • Address primary issues in a family-owned business.
  • Protect inherited properties from parents or ancestors.
  • Avoid debts that you didn't personally acquire.
  • Protect own assets and properties acquired during the time of marriage

As they say in an old proverb, “Ang kasal ay hindi kaning isusubo na iluluwa kapag napaso.” So, before embarking on a lifelong commitment, think carefully!

— Noel Ed Richards, The Summit Express



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