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Anyone Have Experiences with Prenups Here?


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Irenicus

Title pretty much explains it all.  Looking to get married soon and a Filipino told me today that I should get a prenup so what happened to his foreigner friends doesn't happen to me.

Maybe our resident legal beagle, Davao can offer some guideance?

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lamoe
1 hour ago, Irenicus said:

Title pretty much explains it all.  Looking to get married soon and a Filipino told me today that I should get a prenup so what happened to his foreigner friends doesn't happen to me.

Maybe our resident legal beagle, Davao can offer some guideance?

A good divorce attorney would be a start

That wasn't sarcastic - they should know the RP divorce / settlement codes better than anyone

https://www.international-divorce.com/prenuptial-agreements-in-the-philippines

If planning to go back to US this might help - need to select state

https://www.lawdepot.com/contracts/prenuptial-agreement/?loc=US&pid=googleppc-prenup_us-AgreementT1_aq16-ggkey_prenuptial agreement&gclid=Cj0KCQiAmZDxBRDIARIsABnkbYRoFoygghsmg2I8QDFzHpPXIR9EEdxQv2Dd5UF3H4SNNMXws9OP0W4aAqIaEALw_wcB#.XiVaJ4gRXIU

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to_dave007

If you haven't seen the Philippine Family Code (lots of threads give links to it) then you should read the parts about your assets, her assets, and what happens to those assets if you get annulment or legal separation.  The rules are different here than wherever you came from.  IMHO (worth all you paid for it) the main purpose of pre-nup here would be to identify which specific assets will NOT become community property at marriage.

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Surprises me that there would be such a thing as a divorce attorney in the Philippines .. I wasn't aware that divorce was an option in PI .
There's possibly attorneys that specialize in Family Law ?

Sent from my Mi A2 Lite using Tapatalk

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Davaoeno

I have a prenup here. Of course I always figured that any Judge could on any day find some reason to  not enforce it if he felt bad for the poor innocent filipina being taken advantage of by the big bad foreigner!

( but I didnt tell Mrs Davaoeno that!)

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the.lone.gunman

The best prenup is a secret bank account in a foreign country. Write this down. Read it twice a day.

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SkyMan

It does seem like a strange idea to plan for divorce while preparing to marry the love of your life.

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Jawny

I would advise those who choose to have secret bank accounts to use care if they are USA taxpayer.  The FATCA rules that require reporting of overseas banking or other financial arrangements can affect the secrecy aspect. 

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rfm010

Thump thump thump and another one bites the dust...

Whatever agreement you end up with you know by now will only be as good as the local courts want them to be.  No need for separate SECRET accounts but you might consider putting a good chunk of your savings in u.s. banks/ brokerages whatever.  Out of easy reach of philippine law one would hope.  My wife and i keep our accounts separate, mine in the u.s., not as any protection against a soured marriage (its been over 30 years), but to keep my funds out of reach of philippine inheritance and tax laws.  You might consider that approach (and explanation for the "lucky" girl).  

Sincere best wishes for two of you.

 

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davehud
18 hours ago, Davaoeno said:

I have a prenup here. Of course I always figured that any Judge could on any day find some reason to  not enforce it if he felt bad for the poor innocent filipina being taken advantage of by the big bad foreigner!

( but I didnt tell Mrs Davaoeno that!)

OK, I'll bite. Since divorce is not legal in the PI what's the point in having a prenup in the PI? As an American I would have a prenup there and if the marriage didn't work out I would divorce wifey in America? I'm guessing it doesn't matter where the marriage takes place, does it? Asking for a friend...

PS. Is the activation and enforcement of a prenup done separately from a divorce or part of a divorce?

Thanks!

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Irenicus
6 minutes ago, davehud said:

Since divorce is not legal in the PI what's the point in having a prenup in the PI?

That is what I thought as well.  Then I found out that it applies to separation as well - legal or otherwise.

From what I know (which is pretty much fook all), prenup ensures separation of assets (your stuff/her stuff) upon the separation.  Without it, it is considered communal property and must be shared 50-50.  And it doesn't seem to apply to land and or money in foreign accounts outside the Philippines jurisdiction.  I guess it allows you to keep 'your' car, electronics, furniture, appliances etc. etc.  But you still can't keep the property.  Anyone know what impact it has on the house if you paid for it all?  From what I know (fook all), that still has to be split 50-50 but maybe not.  

I still haven't broached the subject to her.  It should make for an interesting conversation...

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Headshot
6 hours ago, davehud said:

OK, I'll bite. Since divorce is not legal in the PI what's the point in having a prenup in the PI? As an American I would have a prenup there and if the marriage didn't work out I would divorce wifey in America? I'm guessing it doesn't matter where the marriage takes place, does it? Asking for a friend...

PS. Is the activation and enforcement of a prenup done separately from a divorce or part of a divorce?

Thanks!

There is no divorce in the Philippines, but there is legal separation, and the courts will often divide the property when the legal separation is decreed. Although the courts can rule any way they want, a prenup MAY give you some protection if you get the right judge.

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  • 3 weeks later...
Davaoeno
On 1/21/2020 at 11:32 AM, SkyMan said:

It does seem like a strange idea to plan for divorce while preparing to marry the love of your life.

No stranger than buying car insurance when you are preparing to buy the car you always wanted.

No stranger than doing a will when you have no intention of dying any time soon.

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