Highlights
- The main reason a spouse wants a prenup nullified is to take financial advantage of their partner.
- Let the agreement stand.
- Take note of your spouse's contribution to your property, business or asset.
'May PERAan' is SBS Filipino's podcast series which features financial experts seeking to answer the most common questions about money and finances.
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"I haven't encountered a client who wanted out of a prenup agreement during the marriage. This is a very unusual case. The usual is that parties come together to enforce the agreement," solicitor Florante Abad shares.
Florante Abad, who specialises in family law, gives his advice on what to do should your spouse want out of the agreement.
Main reason for wanting to withdraw
Florante says that the main reason a spouse would want an agreement nullified is to take financial advantage of their partner.
"In the beginning, the one who earns more and has more assets wants to protect what is theirs; but when they start seeing that another partner has a business that is doing well or has a windfall, they want to be able to have access to the asset. The prenup blocks them from staking claim.
'But remember, you can say no to this."
Let the agreement stand
Florante says to remember that the agreement is a contract and it is binding.
"Just because a spouse finds themselves at a disadvantage at the enforcement of a contract, doesn't mean they can just say they want out of it.
"For the other spouse, let the agreement stand. Assert your right to it."
He says that spouses need to keep the legal principle of estoppel in mind.
Estoppel exists to protect one party by holding the other to their word or to the legal rights previously agreed upon.
"Don't even entertain the idea of nullifying the agreement."
If the other spouse challenges
According to Florante, "If your spouse wants to challenge the agreement in court, defend and assert yourself. Do not give in."
If the possibility of success, future assets and windfall are not included in the agreement, the spouse who wants the agreement nullified can bring the case to court. However, they will only be entitled to the equivalent of their contribution.
"The business, let's say, grew due to the effort of the wife and the minimal support of the husband, the wife is entitled to the bulk of it. The husband is only entitled to his contribution.
"The only property they share is what they acquired through common effort. Efforts will be quantified."
